# Brazil gains on Bolsonaro's choice to head central bank, Mexican peso falls

> Brazil's real and stocks rose after Jair Bolsonaro's incoming government chose Roberto Campos Neto, a Santander Brasil executive, to replace central bank chief Ilan Goldfajn, pending congressional approval. The Mexican peso weakened as emerging markets were pressured by Brexit uncertainty, after the Mexican central bank raised its overnight rate.

- Date: 2018-11-16 · published 2018-11-16T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/62252-brazil-gains-on-bolsonaro-s-choice-to-head-central-bank-mexican-peso-falls
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A stable, market-friendly central bank in Brazil supports the real, which lowers the cost of dollar-priced grain and meal imports for Brazilian buyers. A weaker peso raises Mexico's costs for dollar-priced feed ingredients.

## Read by commodity

- USDBRL: bearish ▼
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2023-02-17 | [Brazil’s Central Bank Head Extends Hand to Lula, But Maintains Key Demands](https://feedsoft.ai/events/37529-brazil-s-central-bank-head-extends-hand-to-lula-but-maintains-key-demands.md) | -0.9% | +1.0% |
| USDBRL | 2018-10-08 | [Brazil's real, stocks rally on Bolsonaro win](https://feedsoft.ai/events/7665-brazil-s-real-stocks-rally-on-bolsonaro-win.md) | -4.1% | -4.3% |
| USDBRL | 2018-10-29 | [Bid on Brazil’s Bolsonaro \| articles \| ING THINK](https://feedsoft.ai/events/62739-bid-on-brazil-s-bolsonaro-articles-ing-think.md) | +0.7% | +6.1% |
| USDBRL | 2025-12-11 | [Latin American assets rally on Fed cut, Brazil's cenbank maintains pause \| Reuters](https://feedsoft.ai/events/21716-latin-american-assets-rally-on-fed-cut-brazil-s-cenbank-maintains-pause-reuters.md) | +0.9% | -2.2% |
| USDBRL | 2021-10-13 | [Brazil central bank sells $1 bln in surprise FX swap auction](https://feedsoft.ai/events/44784-brazil-central-bank-sells-1-bln-in-surprise-fx-swap-auction.md) | +0.4% | -0.5% |

## Sources

- reuters.com: https://www.reuters.com/article/emerging-markets-latam/emerging-markets-brazil-gains-on-bolsonaros-choice-to-head-central-bank-mexican-peso-falls-idUSL2N1XR0FB/

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