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Copom Meeting On Wednesday, Ipec Electoral Poll Due

BRAZIL
  • Brazil’s political tensions soared at the start of the final week before the runoff as former lower house deputy Roberto Jefferson resisted arrest and got into a gun battle with police carrying out a court order.
    • Speaking on Friday, Lula indicated those who earn up to 5,000 reais per month will be exempt from income tax under his administration.
    • Current President, Jair Bolsonaro, who is gaining ground on his left-wing rival ahead of the vote said the economy is ready to “take off” and that he plans to keep his current cabinet if he wins.
    • Ipec to release electoral poll on presidential race today.
  • Data due today at 1330BST/0830ET:
    • Sept. Foreign Direct Investment, est. $5b, prior $7.72b
    • Sept. Current Account Balance, est. -$3b, prior -$4.14b
  • Petrobras discloses its 3Q22 output and sales report after markets close. Company’s results will be released on November 3rd.
  • Copom meeting on Wednesday where consensus expects an unchanged Selic rate at 13.75%, following the guidance provided in September.

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