# Brazil short-term FX rally obscured by reform worries

> A Reuters poll found Brazil's real likely to stay buoyant in the coming weeks after appreciating 15.6% from near-record lows in March. Respondents expected the currency to weaken over one year, with the median forecast at 5.22 per dollar.

- Date: 2021-06-04 · published 2021-06-04T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/46796-brazil-short-term-fx-rally-obscured-by-reform-worries
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Analysts see medium-term weakness in the real due to slow fiscal reforms, which would make Brazilian soybean and corn exports cheaper in dollar terms. This is a limited driver for feed prices.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2020-06-01 | [Brazil cannot rely on foreign funding in short term, says central bank chief](https://feedsoft.ai/events/7614-brazil-cannot-rely-on-foreign-funding-in-short-term-says-central-bank-chief.md) | -8.7% | +0.8% |
| USDBRL | 2020-09-30 | [Mexican peso shines, Brazil's real flat amid fiscal worries](https://feedsoft.ai/events/51323-mexican-peso-shines-brazil-s-real-flat-amid-fiscal-worries.md) | -2.3% | +1.3% |
| USDBRL | 2023-01-20 | [Brazil's real set for 2% weekly loss on worries over c.bank independence \| Financial Post](https://feedsoft.ai/events/37979-brazil-s-real-set-for-2-weekly-loss-on-worries-over-c-bank-independence.md) | -2.6% | +0.2% |
| USDBRL | 2022-11-10 | [EMERGING MARKETS-Brazil's real sinks 4%, other FX rally on dollar weakness](https://feedsoft.ai/events/38888-emerging-markets-brazil-s-real-sinks-4-other-fx-rally-on-dollar-weakness.md) | +6.0% | +1.7% |
| USDBRL | 2019-04-18 | [Brazil: The bumpy road to reform \| articles \| ING THINK](https://feedsoft.ai/events/59777-brazil-the-bumpy-road-to-reform-articles-ing-think.md) | +1.0% | +1.2% |

## Sources

- reuters.com: https://www.reuters.com/business/brazil-short-term-fx-rally-obscured-by-reform-worries-2021-06-04/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.