The dollar jumped against the real shortly after the opening on Thursday (14), following the strength of the US currency abroad as bets grew that the Fed (Federal Reserve, the American central bank) will promote a tighter monetary aggressive than previously estimated by the financial markets.
At 9:04 am (Brasília time), the spot dollar advanced 1.11%, at R$ 5.4640 on sale.
On B3, at 9:04 am (GMT), the dollar futures contract with the first maturity rose 1.33%, to R$ 5.4900.
The day before, the Brazilian stock market could not resist the global volatility caused by a new rise in inflation in the United States.
The mood was one of uncertainty among investors in view of the expectation of further interest rate hikes from the Fed.
Despite having spent most of the day on the rise, the Brazilian Stock Exchange lost strength at the end of the session. Falls in commodity sectors pulled the indicator lower at the close. The Ibovespa index fell 0.40%, to 97,881 points.
The urban consumer price index in the United States reached a record 9.1% in the 12 months through June. This was the biggest advance since November 1981.
In addition to American inflation, investors in the Brazilian market are also digesting the vote on the PEC (proposed amendment to the Constitution) that expands social benefits in an election year.
In victory for the government, deputies maintained the state of emergency in the PEC of billions. The mechanism allows President Jair Bolsonaro (PL) to break the spending ceiling and create new social benefits a few months before the election, without violating the electoral law.
Despite benefiting market sectors in the short term, such as retail, there is concern about the effects of the measure on inflation and interest rates in 2023.
In the US stock market, the S&P 500 dropped 0.45%. This is the fourth consecutive daily decline in the New York Stock Exchange’s benchmark indicator. The accumulated fall this year is 20%.
The concern with uncontrolled inflation in the country, whose most feared effect is that the increase in interest rates, applied by the Fed to stop the rise in prices, puts the American economy into recession, directs the fall in shares.
The fear of inflation with economic slowdown, compounded by the risk of a supply shock in energy in Europe, also kept the euro close to parity against the dollar on Wednesday. The European common currency closed at USD 1.0082, up 0.20% slightly.
In the Brazilian foreign exchange market, the commercial euro dropped 0.37% and closed the day at R$5.4365.
After a 7% drop the day before, the barrel of Brent oil rose 0.08% this Wednesday, at US$ 99.57 (R$ 537.54). The raw material reference price was below $100 for the second time in a row, something that had not happened since mid-March.
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