Free Trial

Lula Aide Says There's Support For Senate Head Re-Election

BRAZIL
  • Lula's aide says transition coordinator to be announced today (BBG)
    • Says Alckmin or Mercadante to coordinate transition (BBG))
    • Says there's support for senate head re-election (BBG)
    • Lula to invite PSD, MDB and PDT parties to join govt (BBG)
  • Brazilian assets aggressively pared initial knee-jerk losses from the open. USD BRL, after trading as high as 5.4084, traded to a low of 5.2090 amid the more optimistic scenario of a peaceful transition and solid macro fundamentals.
  • Despite the rally for the Brazilian Real, USDBRL remains well above touted support at 5.1121, the Oct 4 low. A break lower would highlight a bearish development.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.