The dollar was up against the real shortly after opening this Thursday (26), as investors still reflected on the minutes of the last Federal Reserve meeting, which came as expected, and awaited data on GDP (Gross Domestic Product) of the United States, amid lingering fears about the global economy.
At 9:07 am (GMT), the spot dollar advanced 0.37%, at R$ 4.8387 on sale.
On B3, at 9:07 am (GMT), the dollar futures contract with the first maturity rose 0.26% to R$4.8435.
The US spot currency closed the last session up 0.17%, at R$ 4.82 on sale.
The day before, after oscillating upwards since the opening of business, with the appreciation of the dollar reaching over 1%, the movement ended up losing strength near the end of the trading session.
At the close of the session, the American currency had a modest appreciation of 0.20%, quoted at R$4.8210 for sale. At the maximum of the day, the currency reached R$ 4.8650, with the minimum at R$ 4.8060.
The decline in the currency’s rise coincided with the release of the minutes of the Fed (Federal Reserve, central bank of the United States), although the document did not bring great news to the market, confirming previous indications of maintenance in the pace of tightening of the American monetary policy.
On the Stock Exchange, the Ibovespa stock index differed from global peers and operated in a slight decline throughout the session.
Towards the end of the trading session, with the improvement in the mood of investors in the United States, with the minutes ratifying new highs of 0.50 point by the Fed, the Ibovespa showed a slight improvement, to close stable compared to the previous close, at 110,579 points .
The shares of large banks negatively pressured the performance of the Ibovespa on Wednesday, with a drop of 2.62% for Santander and 1.8% for Itaú. Bradesco’s shares dropped 1.13%, and those of Banco do Brasil, 0.61%.
Commodity exporters prevented a more intense fall in the Ibovespa, with an increase of 2.03% in Petrobras’ common shares and 1.42% in preferred shares. The state-owned shares recovered after the strong losses in the previous session, after the government determined the change in command of the company.
US stocks close higher on outlook for US monetary policy
In the global market, stock exchanges in the United States have fluctuated under intense volatility since the opening of business on Wednesday, but firmed up in the positive field after the Fed’s minutes.
The S&P 500 gained 0.95%, the Dow Jones rose 0.60%, and the Nasdaq, with the highest concentration of technology businesses, advanced 1.51%.
According to the minutes of the US central bank, all participants in the May 3-4 monetary policy meeting supported a 0.50 percentage point increase in interest rates to fight inflation, which they agreed had become a major threat to the performance of the US economy, and which could rise even more without the action of the monetary authority.
This month’s 50-percentage-point rate hike was the first of its size in more than 20 years, and put the Fed on a path of rapid monetary policy tightening, with “most stakeholders” judging that further 0 .50 point would be “probably appropriate” at the next central bank meetings in June and July, according to the minutes released on Wednesday.
Investors’ concerns about the possibility that the US monetary authority will have to tighten the pace of increases were among the main reasons for the drops in US stocks in recent days.
“All participants agreed that the US economy was very strong, the job market was extremely tight and inflation was very high,” the minutes said, with the risks of faster inflation “sloping upwards” due to current global supply problems, the war in Ukraine and the ongoing coronavirus lockdowns in China.
According to Guide analysts, what generated greater optimism in the market was a specific point within the minutes, which mentioned the possibility of an interruption of the upswing cycle “later this year”, so that the Fed can assess the effects of the tightening and the extent to which developments in the economy justify adjustments in the pace of monetary policy.
“This comment helps raise bets on a reduction in the pace of interest rate hikes to 0.25 point from September,” point analysts at Guide.
with Reuters
I have over 8 years of experience in the news industry. I have worked for various news websites and have also written for a few news agencies. I mostly cover healthcare news, but I am also interested in other topics such as politics, business, and entertainment. In my free time, I enjoy writing fiction and spending time with my family and friends.
