|Day's range||3.846 - 3.855|
|52-week range||3.1215 - 4.2076|
Sao Paulo's Bovespa stock index surged as much as 2.65 percent on Friday and Brazil's real currency strengthened 1.2 percent against the dollar following Thursday's announcement by incoming finance minister Paulo Guedes. Analysts said Bolsonaro, a former army captain and lawmaker who has admitted having scant knowledge of economics, was assembling an experienced economic team to implement his plans to slash government spending, simplify Brazil's complex tax system and sell off state-run companies. Campos, currently the treasury director at Banco Santander Brasil SA with hands-on trading desk experience, will take over the central bank early next year from Ilan Goldfajn.
Brazil has been clawing itself out from the worst recession in its history, but that hasn’t stopped President Michel Temer from touting the country to investors.
The company also announced two new partnerships on election integrity ahead of Brazil elections next month and the US midterms in November.
On August 31, Vale SA (VALE) had returned 7.9% year-to-date. Lately, Brazilian stocks are being pressured due to economic and political issues facing the country. The Brazilian real has been under tremendous pressure against the US dollar, which led to a widespread sell-off. The iShares MSCI Brazil ETF (EWZ) has lost ~20.0% so far this year in light of these concerns.
Investing.com - Markets kept a wary eye on wobbly emerging market currencies this week, with declines in the Turkish lira, Argentine peso, and the South African rand at the forefront.
Many emerging market currencies, which have had a torrid few months, will bounce back at least partially against the dollar in a year as weakening growth momentum takes the shine off the greenback, a Reuters poll found. The rand is expected to firm almost 10 percent to 14.00 per dollar in a year, the Brazilian real just over 8 percent to 3.79 per dollar, and the heavily-sold Argentine peso over 10 percent to 34.135 per dollar.
Brazil is set to hold a two-round ballot next month, with the vote widely expected to be the most unpredictable since the country's return to democracy three decades ago. "Whoever wins will preside over a polarized nation, with almost half the electorate viewing the new president negatively… The near-term outlook for Latin America's biggest economy isn't great," Cliff Kupchan, chairman of Eurasia Group, said in a research note published Tuesday. Brazil's real is down 18 percent year-to-date versus the greenback.
Gold slipped on Tuesday as concerns over an escalating trade conflict between the United States and China battered emerging market currencies and prompted investors to seek perceived safety in the dollar. A stronger dollar makes dollar-priced gold costlier for non-U.S. investors. Emerging market currencies such as the Argentine peso, Turkish lira, South African rand, Brazilian real, Indonesian rupiah and Indian rupee sank as investors fear these export-oriented economies will be caught in the escalating trade war.
SAO PAULO (AP) — Brazil's currency is falling against the U.S. dollar, continuing a slide fueled by uncertainty ahead of presidential elections.
The survey, which was last taken in May, found that almost half of the leftist leader's supporters would transfer their votes to his running mate Fernando Haddad if Lula is disqualified from Brazil's most uncertain race in decades. The Brazilian real led losses among Latin American currencies after the poll showed investors' favorite Geraldo Alckmin, the candidate most likely to enact fiscal reforms, lagging far behind his rivals. Electoral authorities are expected to bar Lula from the election due to a corruption conviction.
Devaluation of the Brazilian Real as well as steep fuel costs hurt GOL Linhas' (GOL) Q2 results. Consequently, the company issues a dim outlook for the current year.
Investing.com – The U.S. dollar rose Friday but looks set to post its biggest weekly loss since March as traders remained wary of escalating trade tensions after the G7 meeting got underway.
SAO PAULO (AP) — Brazil's currency is falling again against the dollar amid uncertainty over this year's elections in Latin America's largest economy.