
Brazil's Ibovespa closed up 1.20% at 167,525 points on Wednesday, snapping six sessions of decline. The dollar fell 0.65% to R$5.450 after Democrats won control of both chambers of the US Congress in the midterm elections, a defeat for President Trump.
A weaker dollar and the US political shift tend to ease pressure on emerging-market currencies, which can lower Brazilian feed-ingredient import costs. Investors also await the Copom decision on the Selic rate, which is expected to hold at 13.75%.
After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.