The dollar was stable against the real on Thursday morning (4), with investors evaluating the Central Bank’s decision to raise the Selic rate to 13.75% and keep the door open for residual monetary tightening in September, while, in abroad, recession warnings were on the radar.
At 9:07 am (GMT), the spot dollar retreated 0.01%, to R$ 5.2774 on sale.
On B3, at 9:07 am (GMT), the first-maturity dollar futures contract dropped 0.19% to R$5.3195.
On Wednesday (4), the index that compares the dollar to other currencies was practically stable, while the stock markets had a positive day, despite signs of a global slowdown in the economy.
In Brazil, currency stability was attributed to the tepid news day for the market, although investors remain alert to rising tensions between the US and China.
On the Brazilian Stock Exchange, the benchmark Ibovespa index rose 0.40% to 103,774 points in a session of broad gains for technology, retail and finance companies.
Locaweb, Via, Natura and Cielo jumped 11.9%, 11.5%, 11.2% and 9.7%, respectively.
Stocks in these sectors tend to benefit from investors’ bet on interest rate stabilization. The market widely bet on the increase of 0.50 percentage point in the Selic rate, to 13.75% per year, which was confirmed after the release of the result of the meeting of the Central Bank’s monetary policy committee.
Abroad, the main stock indices rose. In New York, the S&P 500 indicator, a parameter for the US stock market, gained 1.56%. The Dow Jones gained 1.26%, while the Nasdaq jumped 2.59%.
In Europe, the index that tracks the region’s top 50 companies rose 1.30%.
The reference price of oil reached the end of this Wednesday with the lowest daily price since the day before the invasion of Ukraine by Russia.
A barrel of Brent dropped 3.74% to US$96.78, the lowest since the days before the start of the war. At the low of the day, the commodity fell to US$96.50, close to the lowest intraday value during the conflict in Europe, of US$94.50, on July 15.
​In Brazil’s stock market, oil companies resisted the commodity’s fall, despite the volatile session for Petrobras, whose most-traded shares rose 0.06%.
The devaluation of raw material occurred after a US government report reported a drop in demand for fuels. At the same time, there was an increase in inventories in the country, explained Ilan Arbetman, an analyst at Ativa Investimentos.
The news about a slowdown in US demand cooled prices after a rise earlier in the day, which had been provoked by the decision of the cartel of oil-producing and allied countries, known by the acronym OPEC+, to increase its production by just 100,000 barrels a day. next month. “It’s a very small addition,” Arbetman said.
OPEC’s proposal falls short of the expectations of the United States, which would like a significantly greater expansion. Falling fuel prices would help President Joe Biden’s administration control the country’s highest inflation in 40 years.
To curb inflation, the Fed (Federal Reserve, the American central bank) has been increasing its interest rate, which has already resulted in two quarterly declines in US GDP, fulfilling the most important criterion to characterize a recession.
with Reuters
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