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The Brazilian real weakened past 5.65 per US dollar, its lowest level since May of last year. Markets had first welcomed the government's fiscal adjustment plan but now see it as timid, with measures focused on spending freezes rather than structural debt reform.
October inflation rose to 4.63%, above the central bank's 4.5% target, leaving the bank cautious about resuming Selic rate cuts.
A weaker real makes Brazilian soybean, corn and meal exports cheaper in dollar terms, which can pressure global feed prices. Sticky inflation and a cautious central bank also raise domestic financing costs for Brazilian farmers and feed producers.
pt.tradingeconomics.comIsabela CoutoNov 12, 2026After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% over 20.
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.
