◂ Event Timeline

Jul 13, 2017POLICYBrazil

Ex-Brazil President Lula sentenced to nearly 10 years for corruption

A Brazilian court sentenced former president Lula to nearly 10 years in prison for corruption. The real extended gains after the decision and reached its strongest level in two months.

WHY IT MATTERS

Political risk around the 2018 election is supporting the real, which affects the dollar cost of Brazilian feed exports, though the direct effect on grain and meal prices is modest.

AFFECTSBrazilian Real (BRL per USD)▼

SOURCE
reuters.comBrad BrooksJul 13, 2017

Price reaction & history

Brazilian Real (BRL per USD)▼bearishSO FAR1d -0.4%5d -2.3%20d -2.4%

After 13 past bearish policy events, Brazilian Real (BRL per USD) moved a median -3.4% over 5 sessions (15% higher; middle half -3.4% to -1.3%), and -1.9% over 20.

May 31, 2020Brazil to increase FX intervention but cautious on bond buying - Business & Finance - Business Recorder-8.7%
Jul 3, 2024Lula approves spending cuts to meet Brazil's fiscal framework, says minister | Reuters-4.8%
Nov 28, 2017Softer Pension Proposal Leads to Brazilian Stock Slip | Chief Investment Officer+0.8%
Jan 3, 2019Brazil markets soar as new government vows to shrink state-3.4%
Jun 25, 2025Brazil’s Central Bank intervention in FX market raises questions-0.7%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Brazilian Real (BRL per USD) USDBRL · GP ▸

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