The dollar hovered around stability against the real this Friday (5th) while the market evaluated data on job creation in the United States in July, which exceeded expectations.
At 11:03 am, the spot commercial dollar advanced 0.07%, at R$ 5.2250 on sale. The Ibovespa, the stock exchange’s reference index, rose 0.49% to 106,419 points. In New York, the benchmark indicator of the Exchange, the S&P 500, fell 0.04%.
The US unemployment rate fell to 3.5%, the lowest recorded since before the pandemic. This indicates that the US economy was not in recession, despite two consecutive quarterly declines in GDP (Gross Domestic Product).
The country’s job market opened 528,000 urban jobs last month. This marked the 19th consecutive month of job openings. The unemployment rate was at 3.6% in June.
Investors are now reconsidering their expectations that a slowdown in the economy would take a breather from inflation and lead the Fed (the Federal Reserve, the US central bank) to slow down the pace of its interest rate hike soon.
“The job market showed strength again and opened the way, once again, for the Fed to do what has to be done with interest rates in search of the convergence of inflation to the target”, commented Étore Sanchez, from Ativa Investimentos.
On Thursday (4), optimism prevailed in the domestic financial market, with investors evaluating the Central Bank’s decision to raise the Selic rate to 13.75%. Although the monetary authority left the door open for a new increase in September, there is an expectation of a pause in the credit crunch.
The Ibovespa rose 2.04% to 105,892 points, its best result since June 9.
Sectors that rely on lower interest rates have largely benefited from the risk-friendly climate, particularly corporate stocks that have been down this year.
National retail giants Magazine Luiza and Via shot up 13.99% and 12.73%, respectively. Discount coupon company Méliuz jumped 15.04%. The airline Gol rose 14.81%, and the construction company MRV, 12.73%.
Abroad, the main markets did not indicate a specific direction. In New York, the S&P 500 dropped 0.08%.
In Europe, the London Stock Exchange rose slightly by 0.03% on the day the Bank of England announced a 0.5% increase in its basic interest rate. This is the biggest increase in the rate since 1995.
The measure was taken in an attempt to contain inflation that could reach 13% a year in October.
with Reuters
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