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Bolsonaro To Be Released from Hospital, USDBRL Eyes 5.7563

BRAZIL
  • USDBRL's recovery this week back above the 50- and 20-day EMAs is a bullish development and signals the early stages of stronger reversal. Attention turns to resistance at 5.7563, the Dec 21 high and bull trigger.
  • Brazil President Jair Bolsonaro is improving following the removal of a nasogastric tube, according to a statement from Vila Nova Star hospital in Sao Paulo, where he is being treated. It has just been announced that the president should be released today.
  • The public hearing on Eletrobras privatization process is expected today at 10am local, according to a company statement, citing a note from the Brazilian development bank known as BNDES.
  • Current data suggest that Brazil’s recession has deepened in 4Q21 and Legacy Capital now expects the nation’s gross domestic product to shrink 1.0% in 2022, with risks tilted to an even greater decline.
  • The Municipal Health Department of São Paulo said on Tuesday that 50% of the cases registered between the 12th and 18th of December are of the omicron variant. The preliminary data are part of a genetic sequencing carried out by the Butantan Institute. (Poder 360)

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