The dollar rose against the real this Thursday morning (12), following the movement of the international exchange market. The move comes after its index against a basket of strong pairs renewed its highest in two decades amid strong demand for safety abroad.
At 9:03 am Brasília time, the spot dollar advanced 0.63%, at R$ 5.1778 on sale. On B3, at the same time, the dollar futures contract of the first maturity rose 0.7%, to R$ 5.2085. The US currency traded on the interbank market closed the last session up 0.22%, at R$5.1455.
The Central Bank will auction up to 15,000 traditional foreign exchange swap contracts in this trading session for the purpose of rolling over the maturity date of July 1, 2022.
In the last session, driven by the strong rise in commodity prices, the Brazilian Stock Exchange went against the trend observed among peers in the United States and closed with a rise above 1%.
The Ibovespa index ended the previous session with gains of 1.25%, at 104,396 points, interrupting a sequence of four consecutive drops.
As for the exchange rate, the dollar, which fell against the real during the first half of the trading session, reversed the trend and began to rise in the afternoon, following the worsening mood of investors in the United States.
At the close of the session, the commercial dollar had an appreciation of 0.21% against the real, quoted at R$5.1450 for sale.
US Inflation Worries Again
On the US stock exchanges, the shares started the day in the positive field, but began to fall and closed down again the day before.
The S&P 500 dropped 1.65%, the Dow Jones fell 1.02%, and the Nasdaq, where technology companies are concentrated, lost 3.18%.
Inflation data in the United States, despite having registered a strong deceleration in April, compared to March, still remain at high levels, keeping investors’ fears about a more aggressive increase in interest rates by the Federal Reserve (Fed, central bank American).
The US consumer price index rose 0.3% last month, the lowest rate since last August, the Labor Department said on Wednesday. The numbers contrasted sharply with the 1.2% increase recorded in March, which was the biggest since September 2005.
In the 12 months to April, consumer prices rose 8.3%. Economists consulted by Reuters had forecast an increase of 0.2% in April and of 8.1% in relation to the same period of the previous year.
IPCA pulls future interest rates up
In the local market, the gains of the Brazilian stock exchange were supported this Wednesday by the expressive rise in the shares of commodity exporters with relevant weight on the Ibovespa.
Petrobras’ common shares appreciated 5.04% and preferred shares advanced 3.48%, while Vale’s shares rose 4.17%.
The movement of shares followed the rise in commodity prices on the international market, after China reported a reduction in cases of contagion of Covid-19.
The Asian giant reported an improvement in the health situation, with about 1,500 cases of Covid-19 in Shanghai on Tuesday (10), the lowest level since mid-March, XP analysts pointed out.
The improvement in the pandemic scenario in China brought relief to Asian stock markets, promoting a boost in investor confidence and in commodity prices.
With the reduction of investor fears about mobility restrictions in the Asian country, commodity prices recorded a strong rise in the international market – oil advanced about 4.85%, while iron ore rose 5.8%.
Already the IPCA data, which advanced 1.06% in April and started to accumulate an increase of 12.13% in 12 months, if they do not influence the performance of shares this Wednesday, they pulled up future interest contracts.
The contract maturing in January 2023 increased from 13.27% to 13.32%. The title for 2027 went from 12.18% to 12.30%.
“The Central Bank published the minutes of its last Copom meeting this Tuesday and reinforced the signal of a pause in the tightening cycle soon. The IPCA is an important ingredient to calibrate the timing of this pause and the terminal level of the Selic rate”, say XP analysts, who project the rate at 13.75% at the end of the BC high cycle, an increase of 1 percentage point in relation to the current level.
with Reuters
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