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Bolsonaro begins term in Brazil

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Brazil’s newly inaugurated President Jair Bolsonaro said on Tuesday his election had freed the country from “socialism and political correctness,” and he vowed to tackle corruption, crime and economic mismanagement in Latin America’s largest nation.

Bolsonaro, a former army captain turned lawmaker who openly admires Brazil’s 1964-1985 military dictatorship, promised in his first remarks as president to adhere to democratic norms, after his tirades against the media and political opponents had stirred unease.

While investors hope Bolsonaro’s free-market stance will reinvigorate Brazil’s economy – the eight largest in the world – environmentalists and rights groups are worried he will roll back protections for the Amazon rain forest and loosen gun controls in a country that already has the world’s highest number of murders.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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