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In a week of relative calm in international markets, here in Brazil the big news was the announcement of yet another change in the presidency of Petrobras due to the increase in fuel prices.
Take the quiz to find out if you’re up to date on what’s happened in the last few days:
Biden releases 180 million barrels on the market
US President Joe Biden announced on Thursday his plan to try to smooth the fuel surge in the wake of the war in Ukraine.
Understand: the idea is to play in the market 180 million of barrels of oil from its strategic reserves for six months, which would be a release of one million barrels per day. It is the equivalent of increasing world supply by about 1%.
- According to the White House, it is the largest oil barrel dump in history.
- OPEC and its allies also timidly increased the pace of growth in the commodity’s production this Thursday, from 400,000 to 432 thousand barrels per day.
What explains: As in Brazil, the soaring fuel prices also affect the popularity of Joe Biden, who faces legislative elections. The opposition is emerging as a favorite to regain control of Congress.
Reaction: the prices of barrels of oil WTI (reference for the USA) and Brent (international benchmark) responded to the measure of Biden. The second, a reference for Brazil, fell 4.88%at US$ 107.91 (R$ 511.19).
In the markets:
- The dollar closed another day in decline, with a decline of 0.50%, the BRL 4.76responding to the inflow of foreign funds into Brazil.
- The currency ended the first quarter of this year with a 14.6%the highest for the range since June 2009.
- The stock market operated close to stability, but was unable to contain the external bad mood and fell 0.22%, in 119,999 points. Despite the decline in oil, Petrobras shares rose 1.39%.
Unemployment declines, but income too
Unemployment fell again in Brazil in the December-February quarter. The fee of 11.2% is the lowest for the period since February 2016, informed the IBGE this Thursday.
Market analysts projected the rate of 11.4%.
In numbers: was a drop compared to September and November 2021, when the rate was 11.6%. In the quarter ended in February, the unemployed population, who do not have a job and are looking for a vacancy, totaled 12 million.
Low income: a negative factor that has accompanied the drop in the unemployment rate in recent months has been the decline in worker income.
- She was estimated at BRL 2,511 in the interval until February, the lowest ever recorded for the period in the historical series (adjusted for inflation), with data since 2012.
- The situation puts pressure on Brazilian workers, who also have to deal with rampant inflation and difficult and more expensive access to credit.
More on the job market:
Deliverers are calling for a new stoppage of transport and delivery apps for this Friday (1st), in another attempt to reissue the “Apps Brake” held in July 2020.
take a break
- To watch: “Trust No One: The Hunt for the Cryptocurrency King” – on Netflix.
In the week that yet another cryptocurrency-related crime came to light, this time involving the popular game Axie Infinity, Netflix released a documentary about one of the most bizarre and mysterious cases involving the industry.
What happened: In 2019, after the founder of Canada’s largest cryptocurrency exchange died unexpectedly in India, around 115,000 QuadrigaCX customers lost access to US$ 190 million (R$ 900 million, at the current price) that were in the custody of the company.
The owner, Gerald Cotten, 30, was the only one who had the password to access the assets, the company said at the time.
the documentary shows that speculation surrounding Cotten’s death increased as investors looked into her past and realized that the brokerage was already experiencing liquidity problems before her death.
Also caught the attention of clients was a will made days before his death in which he transferred most of his assets to his wife and even to his dogs.
In addition to the economy:
- Electoral Cable: podcast presents political dispute through social networks in the election year; listen up.
- Sheet Guide: Did you like “Bridgerton”? Discover 10 period novels to watch on streaming.
I have over 8 years of experience in the news industry. I have worked for various news websites and have also written for a few news agencies. I mostly cover healthcare news, but I am also interested in other topics such as politics, business, and entertainment. In my free time, I enjoy writing fiction and spending time with my family and friends.
