Brazil's formal job creation came in well above forecasts just days before the election, a strong labor print that lifted the EWZ and adds a positive domestic datapoint to an other
Brazil's formal job creation came in well above forecasts just days before the election, a strong labor print that lifted the EWZ and adds a positive domestic datapoint to an otherwise mixed picture. Producer prices also rebounded after a prior decline, hinting at some renewed cost pressure working through the economy. The market continues to weigh that resilience against the steep new Chinese tariff on beef imports, which remains a drag on a key export channel, while election-related uncertainty keeps the overall mood cautious.
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