The dollar had a slight rise against the real this Friday (9), as investors awaited the interview that president-elect Luiz Inácio Lula da Silva will give in Brasília this morning, with wide expectation of an announcement by at least five ministers, including Finance and Civil House.
Lula will speak from 10:15 am (from Brasilia).
At 9:07 am (Brasília time), the spot dollar advanced 0.41%, at R$ 5.2371 on sale.
On B3, at 9:07 am (Brasília time), the first contract dollar futures contract rose 0.09%, to R$ 5.2600.
On Thursday (8), the dollar closed the trading session with a slight increase of 0.21%, quoted at R$ 5.2170. The Ibovespa ended the session down 1.67%, at 107,249 points. This is the lowest score for a closing of the Stock Exchange’s main index since the beginning of August.
Investors showed concern about public spending in view of the progress of the PEC (proposed amendment to the Constitution) of the Transition in Congress and the possible confirmation, expected for this Friday, of Fernando Haddad as Minister of Finance of President-elect Luiz Inácio Lula da Silva (PT ).
The national president of the PT, Gleisi Hoffmann (PR), said this Thursday that Lula should announce “some names” that will compose his ministry. Allies say that the president-elect will confirm Haddad at the farm.
Doubts about how flexible the government’s fiscal policy will be with Haddad at the head of the economy and, mainly, about how the government will use the resources obtained with the Transition PEC make the market fearful.
On Wednesday (7), the Senate plenary approved the PEC without modifying the text that came out of the CCJ (Constitution and Justice Commission) of the House, despite pressure from the opposition for the value and duration to be reduced.
The approved proposal, which now goes to the Chamber for consideration, increases the spending ceiling by BRL 145 billion in 2023 and 2024 for the payment of the Brazil Aid (which will once again be called Bolsa Família) and releases another BRL 23 billion for investments outside the ceiling in case of extraordinary income collection.
The fall of the Ibovespa this Thursday was only not greater due to the rise of 1.23% of Vale. The mining company has great weight in the composition of the index.
Exporters of metallic raw materials, such as Vale, have benefited from the prospect of increased consumption of these inputs in China. The country has been reducing restrictions on the movement of people, adopted in the fight against Covid-19, in addition to having announced stimuli for the real estate sector, which is a major consumer of steel.
The only moderate increase in the exchange rate, one of the thermometers used to measure the temperature of investment risk in Brazil, may be related to the appreciation of goods exported to China and the devaluation of the dollar abroad, where investors were more favorable to the stock market in the last session.
On the New York Stock Exchange, the benchmark S&P 500 index rose 0.75%, after a sequence of five declines.
Over there, investors continue to adjust their portfolios to the possibility that high interest rates will lead the country into recession. Last week’s job creation report, however, led the market to consider this Thursday that this stronger economic slowdown could still take some time.
With Reuters
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