Key Points
The Ibovespa fell a fifth straight day to 173,787, down 0.73% Friday, breaching the cloud floor intraday despite a Q1 GDP beat that did not stop the slide.
USD/BRL closed Friday at 5.0361, the real holding 5.04 even as the index sold off — a notable divergence as month-end positioning closed.
Brazil’s Q1 GDP rose 1.1% QoQ against the 1.0% consensus and 1.8% YoY, driven by agriculture and a 3.5% jump in fixed investment, yet equities lagged the beat.
Oil logged its worst May since COVID — Brent down 19% to $92.56 and WTI off 17% to $87.18 — on a preliminary US-Iran 60-day ceasefire memorandum awaiting Trump’s sign-off.
