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Focus On Elections For Heads of Lower House and Senate

BRAZIL

All focus on the elections for heads of the Lower House and Senate today. We are not expected to receive an outcome before local market close.

Timeline:

  • It has been reported that proceedings should begin from 1700GMT/1400Local
  • 5pm local, the deadline for registering applications ends. After this deadline, the order of the candidates will be drawn on the electronic ballot box.
  • 7pm local, the process of choosing the new president is scheduled to begin. Under the House Rules, for a candidate to be elected, he needs an absolute majority of votes, that is, 257 of the 513 votes available.
  • A more detailed outlook to follow.

* USDBRL opening 0.7% lower in line with the bounce in risk with 5.50-5.53 resistance holding and becoming a more notable technical level going forward.

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