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Markets Await Lula Press Conference

BRAZIL

USDBRL ended the day broadly unchanged. Negative sentiment surrounding the potential Lula candidacy and positive global dynamics resulted in a stalemate for the currency. Local rates, however, remained on the backfoot and markets will eagerly await Lula's rescheduled press conference today at 11am local time.


Overnight, the base-text of the emergency bill was approved in 1st round by deputies with 341 votes in favour and 121 against. Amendments presented to the text will be analysed today.

  • (BBG) Proposed constitutional amendment allows the federal government to pay emergency aid in 2021 with 44b reais outside the spending cap and imposes more rigidity in the application of fiscal restraint measures, control of personnel expenses and reduction of tax incentives, according to Camara Noticias.

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