- Analytics
- News and Tools
- Market News
- Brazi: President-elect Lula is sending all the wrong signals – BBH
Brazi: President-elect Lula is sending all the wrong signals – BBH
Brasilian President-elect Lula is likely to be less orthodox than what Lula was during his two-term presidency between 2003 and 2011, according to analysts from Brown Brother Harriman. They point out USDBRL coudl rise to 5.7240, it if breaks above 5.52.
Key Quotes:
“Reports suggest he favors leftist Fernando Haddad for Finance Minister. While no final decision has been made, unnamed sources say the former mayor of Sao Paulo is the front-runner. If so, it would be a bad signal as markets were hoping for a more orthodox choice with market experience and credibility. To make matters worse, Lula said the government needs to start talking about “social responsibility rather than fiscal responsibility.” Reports suggest Lula is unlikely to announce any members of his cabinet until early December, after he returns from planned trips to Egypt and Portugal.”
“Lula 2.0 is likely to be less orthodox than Lula 1.0.”
“USD/BRL tested the July high near 5.5140 and a break above would target the January high near 5.7240.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
