The dollar fluctuated between stability and a slight increase against the real this Friday (8), as investors digested a stronger-than-expected reading of the March IPCA and its implications for local monetary policy, while abroad, the index of the US currency hovered around two-year highs.
The IPCA (National Index of Consumer Prices) rose 1.62% last month, informed the IBGE this Friday (8). In the 12-month period up to March, the index rose 11.30%. A Reuters survey pointed out that analysts’ expectations were up 1.30% in March and 10.98% in 12 months.
At 9:14 am (GMT), the spot dollar advanced 0.26%, at R$ 4.7529 on sale, on its way to interrupting a sequence of five consecutive weekly devaluations.
On B3, at 9:14 am (GMT), the first-maturity dollar futures contract fell 0.14% to R$4.7775.
spot US currency rose 0.55% the day before, at R$4.7407 on sale.
Future stock market indicators showed slight losses at the opening of the Brazilian Stock Exchange, while pointing to initial gains on the New York Stock Exchange.
Further Russian attacks on civilian targets in Ukraine, however, could add to concerns about further sanctions on Russian commodity production, adding to market fears about global inflation. At least 30 people were killed by a missile at the Kramatorsk train station in the Donetsk region.
The day before, the US stock market turned to the positive at the end of the session and, with that, lifted the markets of the Americas. Analysts attributed the reaction to a technical move by investors, who decided to take advantage of the downturn to buy cheap securities.
For most of the day, markets worked in the negative, in an attempt to digest the release, the day before, of the minutes of the meeting held in March by the Fed’s monetary policy committee (Federal Reserve, the US central bank).
The document reinforced the perception that global inflation, amplified by the war in Ukraine, will lead to a more aggressive hike in interest rates and the reduction of other economic stimulus.
Brazil also gained momentum with the rally in New York, but the leading role was due to the 5.19% rise in Petrobras’ main shares. Investors celebrated the names of the nominees to command the state-owned company.
The Ibovespa closed up 0.54%, at 118,862 points. With this result, the benchmark index of the Brazilian Stock Exchange outperformed the most important world indicators.
This Friday morning, the main stock exchanges in Europe showed recovery from the lows of the previous day. London, Paris and Frankfurt were 1.09%, 1.38% and 1.40%, in that order.
Asian stocks also closed higher after the Fed hangover. In China, the index that tracks companies in Shanghai and Shenzhen rose 0.51%.
Brent oil, a world reference, fell 0.06% to US$ 100.52 (R$ 476.62). The commodity has been losing value this week due to an announcement of the release of 120 million barrels of strategic international reserves.
with Reuters
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