Brazil’s Real Jumps After Bolsonaro Leads Election First Round - Regional Media News
Analysts cite investor optimism for pro-market reforms following Flavio Bolsonaro’s 47% vote share, a result exceeding private poll predictions by 2 percentage points.
- On Monday, Brazil's real jumped more than 4% against the U.S. dollar after Senator Flavio Bolsonaro outperformed polls to lead Sunday's first-round presidential election.
- Bolsonaro and President Luiz Inacio Lula da Silva led a 12-candidate field dominated by concerns over cost of living, corruption, and crime. The senator is the son of former President Jair Bolsonaro, serving a 27-year sentence for plotting a coup.
- The Frankfurt-listed MSCI Brazil ETF jumped more than 16%, while stock index Ibovespa futures soared more than 8% in early trading. Bryan Harris, managing partner at Sabio, said the strong showing boosts market confidence.
- Analysts expect "MARKETS WANT CHANGE," with Morgan Stanley forecasting the real could move toward 4.50 in the first quarter of next year. Bolsonaro pitched himself as a "more centered" version of his father with a pro-market agenda.
- Brazilian intelligence briefed French and German officials last week on alleged U.S. and Russian interference before the election, while Lula allies warned the Trump administration might refuse to recognize a Lula victory.
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Watch Brazil Real Surges After Bolsonaro Takes Surprising Lead
Brazilian reals jump 5% to the dollar, and stocks climb 8% after Flavio Polsonaro's election progress, amid bets on cutting spending and disability and providing more space to cut interest.
Brazil’s real jumps after Bolsonaro leads election first round - Regional Media News
By Oliver Griffin, Luciana Magalhaes and Marcela Ayres SAO PAULO/BRASILIA, Oct 5 (Reuters) - Brazil's real jumped more than 4% against the US dollar on Monday morning amid a strong showing in early trading, after right-wing Senator Flavio Bolsonaro outperformed private poll predictions and took [...]
The commercial dollar opened up the momentum of Monday, falling by more than 4% and, with this, drilling the barrier of R$ 5 in the open market. The surprising result of yesterday's first round of presidential elections, which showed Senator Flávio Bolsonaro (PL-RJ) ahead of President Luiz Inácio Lula da Silva (PT) for just under two percentage points, fuels the expectation of a change in economic policy and generates an aggressive relief of ris…
Brazil's currency, stocks and government bonds rose sharply on Monday as investors discounted the...
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