One day after the biggest drop since 2018, the dollar ended Tuesday (4) practically stable. The stock market started the day on a high, but slowed down and closed slightly higher.
The commercial dollar closed the day sold at R$5.168, down 0.11%. The price started lower, reaching R$ 5.11 around 9:15 am, shortly after the opening of the session. In the beginning of the afternoon, it had a strong increase, reaching R$ 5.20, but lost strength in the final moments of negotiation until it closed stable.
The upward pressure on the US currency is related to a technical adjustment, as investors took advantage of yesterday’s strong low to buy currencies at a lower price. However, the release of weak economic data in the United States brought optimism to the financial market, pushing the dollar lower throughout the afternoon.
The stock market also had a volatile day. The B3 Ibovespa index closed at 116,230 points, up just 0.08%. The indicator rose as much as 1.81% around 10am, but slowed in a profit-taking move, with investors taking advantage of yesterday’s gains to sell shares and pocket the gains.
Yesterday (3), the stock market rose 5.54% and had the biggest daily rise since April 2020, influenced by the result of the first round of the elections. Shares of state-owned companies, which were the ones that appreciated the most yesterday, fell today, pulling the Ibovespa down.
In the United States, the announcement that job creation had the biggest monthly drop in two and a half years brought relief to investors. The slowdown in the labor market reduces pressure on the Federal Reserve (Fed, US Central Bank) to raise interest rates beyond what was expected, which stimulates US stock markets.
The Dow Jones Industrial Companies Index rose 2.8%. The Nasdaq of technology companies gained 3.34%. The S&P 500, one of the largest companies, rose 3.06%. The highs recorded in the last two days help to replace the losses of US stocks in recent weeks.
*With information from Reuters
