Brent at $104.3 is being paid for differently across emerging markets: Brazil zeroed federal gasoline taxes ahead of its runoff, India's central bank hiked to 5.50% to defend the rupee, Mexico's peso fell 1.4%. Taiwan's exports rose 60.9% to a record $87.22bn.
AtlasIntel's 3–8 October poll, after the first round, puts Flávio Bolsonaro 6 points ahead of Lula heading into the 25 October runoff. Source
Brent jumped more than 4% on Thursday to $104.3 a barrel, then gave back about 1.5% on Friday after President Donald Trump said the US would not attack Iran before the 3 November midterms. The bill for that price landed differently across emerging markets this week. Brazil put it on the budget, India on its reserves and then on rates, Mexico on the peso, Turkey on its factories and South Africa on its ports.
