Economy Minister Paulo Guedes' announcements Thursday shook Brazilian markets after the official admitted he might not meet the public spending ceiling.
Brazil's Real firmed for the first time this week, bouncing from last session's all-time lows, while most other Latin American currencies also strengthened on Friday on signs of easing tensions between the United States and China.
Brazil's Real touched a record low on Wednesday as traders returned from the Carnival holiday only to be alarmed by concerns about the spread of the new coronavirus after Sao Paulo confirmed its first case. The Real weakened 1.1% to 4.4470 against the dollar, as it led declines among other Latin American currencies.
Brazil's Senate on Tuesday gave final approval to a landmark reform of the country's social security system, in a step seen as key to stabilizing public finances and the economy. The text was approved by a vote of 60-19.
Brazilian shares broke a four-day run of gains on Tuesday, mirroring declines in global stocks after weak China data-fueled growth concerns, while currencies were tepid ahead of major central bank policy decisions.
Brazilian miner Vale SA said on Wednesday that it will fully resume operations at its Brucutu mine within 72 hours after an appeals court overturned an earlier ruling that halted processing because of concern about the safety of a nearby dam.
Brazil's economy got off to an extremely slow start in the second quarter, figures released showed, with activity in the all-important services sector contracting in April for the first time since September last year.
Brazilian markets slumped on Wednesday, a day after a planned pension overhaul cleared a congressional hurdle following a lengthy debate that highlighted the government’s struggle to build support for its signature reform policy.
Brazilian markets rose on Tuesday after the path was cleared for a congressional committee vote on pension reform, a sign that the government is finally getting political backing for the most important element of its economic reform agenda.
Brazil's Real and shares rose on Monday, recovering after declines last week, while the currencies of oil exporters such as the Mexican and Colombian pesos weakened as crude prices dipped.