The dollar alternated stability and slight decline against the real this Friday (24), but was heading for its fourth consecutive week of gains, after fears that higher interest rates in the main economies would lead to a recession shook global sentiment, a scenario worsened. due to domestic political and fiscal fears.
Investors reacted this morning to the news that the IPCA-15 rose 0.69% in June, compared to a 0.59% rise in the previous month and an expectation in a Reuters poll of an advance of 0.62%.
At 9:09 am (GMT), the spot dollar retreated 0.18%, to R$ 5.2198 on sale.
On B3, at 9:09 am (GMT), the first-maturity dollar futures contract dropped 0.45% to R$5.2290.
The dollar traded on the interbank market closed the last session up 0.97%, at 5.2291 reais, the maximum for closing since February 11 this year (5.2428)
The Brazilian Stock Exchange dropped this Thursday (23) to its lowest level since the beginning of November 2020. The Ibovespa index ended the session at 98,080 points, with a daily devaluation of 1.45%.
As is common in times of aversion to riskier investments, the commercial dollar showed gains against most emerging currencies.
Statements by the president of the Fed (Federal Reserve, the American central bank) to the US Congress alarmed investors about the acceleration of interest rates in the country and, consequently, about the risk of the fall that this credit crunch can cause in the world economy.
Jerome Powell told the House of Representatives financial services committee that the country’s 40-year high inflation must be curbed “unconditionally.”
In New York, however, the benchmark index of the Stock Exchange rose 0.95%. It should be noted that the slight recovery took place at a low level. The S&P 500 is down 20% this year.
Earlier this Thursday night, the reference price of a barrel of crude oil was trading with a devaluation of 1.77%, quoted at US$ 109.76 (R$ 568.85), after having dropped 2.54% the day before. .
The drop in the commodity also results from the expectation of a slowdown in the global economy. Last Friday, the barrel of Brent had already fallen 5.58%. In the accumulated this year, however, the raw material still has an appreciation of almost 40%.
Other raw materials also face devaluation in the face of the crisis. This is the case of iron ore, whose successive drops result from fears that the weakness in economic growth will reduce demand for steel in China, the world’s biggest buyer and producer of the metal.
Following the losses in the commodities sector, mining company Vale plummeted 3.65% on the stock exchange this Thursday. Petrobras’ most traded shares fell 1.86%. The two companies had the biggest impact on the daily low of the Ibovespa.
with Reuters
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