Dollar retreats and Ibovespa soars after Bolsonaro signals truce between the Powers – Prime Time Zone

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Exchange intensifies devaluation and closes at R$ 5.22; The Stock Exchange reverses its signal and ends the day with an advance of 1.72%

Antara Foto/Hafidz Mubarak/via ReutersDollar deepens decline and closes the day with a devaluation of 1.85%

O financial market Brazilian closed in the positive field on Thursday, 9, driven by the strong appreciation of assets after the president Jair Bolsonaro (non-party) release a statement to the nation signaling a truce in tension in Brasilia. In a statement, the head of the Executive said that he never had “no intention of attacking any of the Powers” and that the speeches given at the demonstrations on September 7 “were due to the heat of the moment”. Until around 4:30 pm, the dollar registered a drop of 0.37%, but intensified the devaluation and closed with a retreat of 1.85%, quoted at R$ 5.227. The currency reached the maximum of R$ 5.335, while the minimum did not exceed R$ 5.194. The exchange closed the eve with a high of 2.89%, at R$ 5.326. already the Ibovespa, a reference on the Brazilian Stock Exchange, reversed the sign and went from a drop of 0.52% to a high of 1.72%. The move made the trading session soar from 112,000 points to close at 115,360 points. The trading session this Wednesday, 8, ended with a sharp drop of 3.98%, to 113,412 points. The Ibovespa closed the day before with a sharp drop of 3.98%, to 113,412 points.

In a statement, the president reiterated his respect “for the institutions of the Republic, the driving forces that help govern the country. That’s what democracy is: Executive, Legislative and Judiciary working together in favor of the people and all respecting the Constitution”. In one of the excerpts, Bolsonaro quotes the minister of Federal Supreme Court (STF), Alexandre de Moraes, whom he had called “scoundrel” two days ago. “That’s why I want to say that my words, at times scathing, were the result of the heat of the moment and the clashes that were always aimed at the common good. In spite of his qualities as a jurist and professor, there are natural differences in some decisions made by Minister Alexandre de Moraes. Therefore, these issues must be resolved by judicial measures that will be taken in order to ensure the observance of the fundamental rights and guarantees provided for in Article 5 of the Federal Constitution.” The official statement was released on the same day that the President of the Republic sent a plane from the presidential fleet to seek former President Michel Temer in São Paulo. The emedebista arrived in the federal capital around 11:00 am and met with Bolsonaro and the Union’s attorney general, Bruno Bianco, in a meeting that was not disclosed by the official agendas of the Presidency and the Union’s Attorney General (AGU).