The dollar advanced against the real in the first trades on Tuesday (16), following the maintenance of caution in the foreign exchange market after disappointing Chinese data fueled fears of a global economic recession.
At 9:08 am (GMT), the spot dollar advanced 0.63%, at R$5.1248 on sale.
On B3, at 9:08 am (GMT), the dollar futures contract with the first maturity rose 0.49%, to R$ 5.1490.
On Monday (15), the dollar gained strength against most currencies, reflecting concerns about signs of a slowdown in China’s economy.
Beijing’s strict policy to fight Covid is identified as the main cause for the loss of breath of industrial activity in July, in addition to a persistent crisis in the country’s real estate sector.
In the Brazilian foreign exchange market, the spot commercial dollar closed up 0.35%, at R$ 5.0920 on sale.
Oil prices also fell due to China, the main consumer of the commodity.
Earlier in the night, Brent oil, the benchmark for crude raw material, fell 4.74%, at US$ 93.50 (R$ 476.09) per barrel. The value renews the low observed since February 18, before the start of the Ukrainian War, on February 24.
Despite the weak day for commodities, the benchmark index of the Brazilian Stock Exchange closed up 0.24%, at 113,034 points.
The Ibovespa had a strong advance in retail shares and other sectors whose shares the market considers to be very cheap.
Analysts at Itaú BBA estimate that if the Ibovespa manages to establish itself above 113,000 points, the chances of resuming the rise towards the historic maximum increase, Reuters reported, based on the bank’s report to clients.
The Ibovespa’s historic high at a market close is 130,776 points, recorded on June 7, 2021.
Another reason for the rise in the Ibovespa was the slightly positive day on Wall Street, which is a benchmark for global markets. The S&P 500, the New York Stock Exchange’s benchmark, rose 0.40%. Dow Jones and Nasdaq advanced 0.45% and 0.62%.
With the quarterly earnings season drawing to a close, the results are encouraging investors here and abroad.
Jennie Li, stock strategist at XP, says that 73% of Brazilian companies monitored by the brokerage showed better-than-expected results.
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