# Brazil's post-election market shock clouds path to cheaper credit

> Brazilian markets sold off after Luiz Inacio Lula da Silva's reelection, and the real lost 8.5% against the dollar last week. The Bovespa stock index also fell sharply. Thirty-three of 48 economists polled by Reuters expect the central bank to hold its rate at 13.75% at Wednesday's decision.

- Date: 2026-11-03 · published 2026-11-03T12:08:35.003Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/77533-brazil-s-post-election-market-shock-clouds-path-to-cheaper-credit
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A sharp real depreciation raises the local-currency cost of imported inputs such as soymeal-competing feed ingredients, fertilizers and fuel. It also makes financing more expensive for Brazilian feed and livestock buyers.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2018-07-16 | [Brazil: Post-strike pre-election blues](https://feedsoft.ai/events/64232-brazil-post-strike-pre-election-blues.md) | -2.2% | -0.3% |
| USDBRL | 2022-11-22 | [Bolsonaro challenges Brazil election he lost to Lula](https://feedsoft.ai/events/38889-bolsonaro-challenges-brazil-election-he-lost-to-lula.md) | -0.7% | -2.5% |
| USDBRL | 2026-09-01 | [Election Angst Fuels Bruising Week in Brazil Markets](https://feedsoft.ai/events/18109-election-angst-fuels-bruising-week-in-brazil-markets.md) | -1.9% | +1.0% |
| USDBRL | 2018-06-06 | [Brazil currency skids as election woes add to pessimism](https://feedsoft.ai/events/5376-brazil-currency-skids-as-election-woes-add-to-pessimism.md) | -2.7% | +2.7% |
| USDBRL | 2020-03-12 | [Brazil ups FX intervention, pledges to ease bond market strains](https://feedsoft.ai/events/6394-brazil-ups-fx-intervention-pledges-to-ease-bond-market-strains.md) | +9.2% | +10.4% |

## Sources

- money.usnews.com: https://money.usnews.com/investing/news/articles/2026-11-03/brazils-post-election-market-shock-clouds-path-to-cheaper-credit
- investing.com: https://www.investing.com/news/economy-news/brazils-postelection-market-shock-clouds-path-to-cheaper-credit-4993981

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