Dollar drops slightly as market awaits US inflation data

The dollar had a slight drop against the real in the first trades on Tuesday (12), with investors around the world waiting for US inflation data, which may consolidate the perspective that the US central bank will be more aggressive in its cycle of interest rate hikes.

At 9:06 am (GMT), the spot dollar retreated 0.13%, to R$ 4.6853 on sale.

On B3, at 9:06 am (GMT), the first-maturity dollar futures contract dropped 0.14% to R$4.7080.

The spot dollar closed the last session down 0.43%, at R$4.6915.

This Monday (11), the financial market in Brazil still felt the impact of the highest inflation scare for March in 28 years, revealed last Friday (8), and which surprised even the president of the Central Bank, Roberto Campos. Grandchild. “We had a more recent index that was a surprise,” he said.

The surge in prices has been interpreted since last Friday as a sign of higher interest rates, even threatening the end of the cycle of monetary tightening scheduled for next month.

Expectations of continued inflow of foreign capital, however, led the dollar to a low of 0.46% in this Monday’s session, closing the day quoted at R$ 4.6910.

Abroad, global stock markets had a new day of widespread declines. Fears about the effects of the lockdown on China’s financial heartland have knocked markets in Asia and with them the prices of the main commodities exported by Brazil have also plummeted.

Meanwhile, in the United States, signs that benchmark rates will be severely raised continued to fuel fears that the drug to combat the highest inflation in 40 years could fuel a future recession.

Unfavorable internal and external scenarios for the growth of companies explained the 1.16% drop in the Ibovespa, the Brazilian Stock Exchange’s reference index, which closed this Monday’s trading session at 116,925 points.

with Reuters