The stock and foreign exchange markets were operating close to stability in the late morning of this Thursday (2) after the release of the Brazilian GDP (Gross Domestic Product), which showed growth, although slightly below expectations.
At 11:28 am, the dollar retreated 0.06% and followed the global downward trend of the American currency this Thursday.
The Ibovespa dropped 0.01%. The benchmark indicator of the Brazilian Stock Exchange was running out of steam after showing a gain of up to 1% in the first hours of trading.
In a scenario of reopening the economy, Brazilian GDP (Gross Domestic Product) grew 1% in the first quarter of 2022, compared to the three immediately previous months, according to data released this Thursday by the IBGE (Brazilian Institute of Geography and Statistics).
The performance was slightly below financial market expectations. In the median, analysts consulted by the Bloomberg agency projected a rise of 1.2%.
The day before, the commercial dollar gained strength against the Brazilian real in a day of global increase in the US currency due to growing concerns about the world’s escalation of inflation.
The end of the lockdown in Shanghai, China, the European embargo on Russian oil and the shipment of weapons by the United States to Ukraine reinforced expectations about the maintenance of high energy and food prices.
The American currency rose 1.07%, quoted at R$4.8050. The Ibovespa, the stock exchange’s reference index, changed 0.01%, in a session marked by ups and downs with investors attentive to the US market.
In New York, the benchmark S&P 500 fell 0.75%, deepening the drop of approximately 14% since January. The Dow Jones and Nasdaq indexes dropped 0.54% and 0.72%, respectively.
Eurozone inflation accelerated to 8.1% in May and hit a new record high, beating expectations of 7.7%, with prices rising across the board.
Global inflationary pressures increase the expectation of a prolongation of the cycle of high interest rates in the United States, whose usual consequence is the appreciation of the dollar, especially against the currencies of emerging economy countries.
In periods of aversion to risk investments, investors seek refuge in the US Treasury, especially in view of the prospect of interest rate increases there.
The monetary tightening of the Fed (Federal Reserve, the American central bank) also raises discussions about the risk of recession in the country.
A report on US economic activity released on Wednesday showed that economic growth is starting to lose momentum in the country.
Despite reinforcing concerns about the recession, the indication of a slowdown can also be read as a sign that the Fed’s economic policy is being effective against inflation.
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