# Bolsonaro in crisis mode after Brazil justice minister quits | AP News

> Brazil's benchmark stock index plunged after Justice Minister Sergio Moro quit, and the real weakened to a record low against the dollar. Analysts cited renewed uncertainty over President Bolsonaro's governance.

- Date: 2020-04-24 · published 2020-04-24T12:00:00.000Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/8724-bolsonaro-in-crisis-mode-after-brazil-justice-minister-quits-ap-news
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Political turmoil driving the real to record lows makes Brazilian exports such as soybeans and meal cheaper in dollar terms, which can pressure global feed prices while raising import costs for Brazil's feed buyers.

## Read by commodity

- SBM: bearish ▼
- USDBRL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDBRL | 2020-04-24 | 1 | +4.3% | 3.1 | Moro's exit renewed political uncertainty over Bolsonaro's governance, driving risk-off capital outflows from Brazilian assets and weakening the real to a record low. |
| USDBRL | 2020-04-24 | 5 | +8.2% | 3.8 | The same Moro resignation raised doubts about Bolsonaro's governance, pushing the Bovespa sharply lower and the real to a record low, reflecting risk-off sentiment and foreign outflows that weakened the currency. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2018-08-13 | [Turkish crisis drives up dollar in Brazil - ANBA News Agency](https://feedsoft.ai/events/9469-turkish-crisis-drives-up-dollar-in-brazil-anba-news-agency.md) | +2.2% | +6.6% |
| USDBRL | 2023-01-09 | [Brazil's Currency Falls Vs. Dollar After Riot by Bolsonaro Supporters - Markets Insider](https://feedsoft.ai/events/37983-brazil-s-currency-falls-vs-dollar-after-riot-by-bolsonaro-supporters-markets.md) | -3.0% | -1.0% |
| USDBRL | 2020-04-24 | [USD/BRL surges to fresh record highs above 5.70 after Justice Minister Moro resigns - Forex Crunch](https://feedsoft.ai/events/8725-usd-brl-surges-to-fresh-record-highs-above-5-70-after-justice-minister-moro.md) | -0.4% | +2.7% |
| USDBRL | 2022-10-31 | [Brazil's real down after Lula wins presidential election; Bolsonaro yet to concede](https://feedsoft.ai/events/39344-brazil-s-real-down-after-lula-wins-presidential-election-bolsonaro-yet-to.md) | -5.8% | -1.1% |
| USDBRL | 2019-03-28 | [Bolsonaro struggles to sell Brazil pension bill as markets tumble](https://feedsoft.ai/events/60305-bolsonaro-struggles-to-sell-brazil-pension-bill-as-markets-tumble.md) | -2.9% | +0.4% |
| SBM | 2018-08-13 | [Turkish crisis drives up dollar in Brazil - ANBA News Agency](https://feedsoft.ai/events/9469-turkish-crisis-drives-up-dollar-in-brazil-anba-news-agency.md) | +2.0% | -2.3% |
| SBM | 2023-01-09 | [Brazil's Currency Falls Vs. Dollar After Riot by Bolsonaro Supporters - Markets Insider](https://feedsoft.ai/events/37983-brazil-s-currency-falls-vs-dollar-after-riot-by-bolsonaro-supporters-markets.md) | +1.7% | -1.2% |
| SBM | 2020-04-24 | [USD/BRL surges to fresh record highs above 5.70 after Justice Minister Moro resigns - Forex Crunch](https://feedsoft.ai/events/8725-usd-brl-surges-to-fresh-record-highs-above-5-70-after-justice-minister-moro.md) | +0.3% | -2.1% |

## Sources

- apnews.com: https://apnews.com/article/virus-outbreak-sao-paulo-rio-de-janeiro-brazil-police-ee003a72a2ade3f506af6a8e10fcc7fd

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