Brazil's benchmark Bovespa index rose 1.75% on Tuesday, rallying for a second straight day largely on a spike in commodities prices. Two of the Bovespa's most heavily weighted equities, miner Vale and oil giant Petrobras benefited from rising commodity prices worldwide amid escalating China-U.S. trade tensions and signals OPEC is not prepared to raise output to address shrinking supplies from Iran.Add your comment!
Brazilian equities and currencies slumped on Tuesday after an opinion poll on the presidential election showed leftist candidates gaining ground while market-friendly centrists did not.Add your comment!
In Brazil, the Real currency and benchmark Bovespa stock index strengthened slightly on Wednesday. Political uncertainty in Brazil took a toll after judicial authorities canceled the release of a closely-watched opinion poll on technical grounds.
The Brazilian Real slumped on Monday as mounting concerns over this year's presidential election added to global risk aversion, while the Argentine peso extended a recent sell-off that also spread into stock markets in Latin America.
The Brazilian Real led losses in Latin America as lingering concerns over presidential elections overshadowed a largely positive environment for emerging market assets. The US dollar ended trading at 4.333 Reales.
The Brazilian currency Real fell to a 31-month low versus the U.S. dollar on Thursday on jitters ahead of the country’s October election. Jitters across emerging markets caused by a stronger U.S. dollar and exacerbated by the unfolding currency crisis in Turkey already took a toll on the Brazilian unit before this week.
Things are looking up for the Brazilian economy - but it won't be due to the Olympic games starting this week, according to a UBS report published last Friday.
Twenty years ago, first July 1994, after decades of financial turmoil, Brazil introduced its current currency, the Real, marking a turning point in the country's fight against hyperinflation.
Brazil’s twelve-month inflation ended August at its lowest level this year, according to a central bank survey of fourteen economists. This means the 12-month IPCA consumer-price index is likely to weigh in at 6.10% for August, down from 6.27% at the end of July.
Brazil threatened on Friday a further clampdown on speculative foreign capital, firing a warning shot in the currency war Finance minister Guido Mantega blames on money-printing by Western central banks.