Dollar accompanies exterior and rises against real

The dollar opened this Friday (14) higher against the real, following the advance of the US currency abroad as investors continued to digest US inflation data from the day before, which reinforced bets on the maintenance of an aggressive monetary policy stance by part of the Federal Reserve.

At 9:08 am (GMT), the spot dollar advanced 0.19%, at R$5.2825 on sale.

On B3, at 9:08 am (GMT), the dollar futures contract with the first maturity rose 0.40%, to R$ 5.3005.

On Thursday (13), the rise in consumer prices in the United States caused volatility in the main financial market indicators.

The spot commercial dollar closed close to stability, with a slight increase of 0.05%, quoted at R$ 5.2740. At the moment of greatest appreciation of the day, however, the American currency was worth more than R$ 5.38.

The Ibovespa, reference of the Brazilian Stock Exchange, ended the session down 0.46%, at 114,300 points. At the low of the day, the indicator dropped to 112,690 points, while the high reached 115,366.

In the United States, the S&P 500, a benchmark indicator for the New York Stock Exchange, jumped 2.60%, after having dropped more than 1.5% at the beginning of trading.

This surge in stocks abroad came hours after the announcement made by the US government that inflation in the United States rose above expectations.

The movement of the markets, inconsistent with inflation data considered to be bad for the world economy, experts attributed the result of the deals to adjustments made by investors in the face of asset prices that were already very low due to the inflation crisis.

Daniel Miraglia, chief economist at Integral Group, says that the market’s movement on Thursday is “purely technical”, as the “fundamentals remain very challenging and [a alta das Bolsas no exterior] It shouldn’t last,” he said.

“The trend continues towards more volatility in risky assets towards the end of the year in our view,” said Miraglia.

Details of the US inflation report indicate that prices should remain heated despite the Fed’s (Federal Reserve, the US central bank) rising interest rate policy. That could mean expensive credit for longer and prolonged damage to the growth of the world economy.

The US consumer price index rose 0.4% last month after rising 0.1% in August, the US government said on Thursday. The market had expected a rise of 0.2%.

In the 12 months through September, the index rose 8.2%, after rising 8.3% in August. On an annual basis, the index peaked at 9.1% in June, which was the biggest increase since November 1981.

The most worrying data, however, is the so-called core inflation, which excludes volatile prices, such as energy and food.

This indicator gained 6.6% in September from a year earlier, accelerating from 6.3% in August and marking the biggest increase since August 1982.

Compared to the previous month, the core index rose 0.6% in September, the same as in August.

The day before, the fear of an even more aggressive rise in interest rates had already led the stock markets on Wall Street to close down, while the dollar had a slight appreciation against the main currencies. There were no trades on the Brazilian stock exchange due to the patron saint’s day holiday.

Published this Wednesday (12), the minutes of the last meeting of the Fomc, the Fed’s open market committee, already stated that authorities responsible for the policy of controlling inflation in the United States consider that it is necessary to continue raising interest rates to stop the escalation of prices. .

At last month’s meeting, the Fed raised interest rates by 0.75 percentage points for the third straight time in an effort to reduce the highest inflation in 40 years.

Fomc projections released with the minutes show that the basic interest rate, currently in the range of 3% to 3.25%, will rise to the range of 4.25% to 4.50% by the end of this year.