The uncertainty in the midterm elections in the United States and the disclosure of disappointing profits by financial institutions in Brazil put pressure on the financial market. The dollar fluctuated a lot, but closed higher. The stock market had a strong fall and returned to 113 thousand points.
The commercial dollar closed this Wednesday (9) sold at R$ 5.182, up by R$ 0.038 (+0.74%). The quotation had a day of swinging. After rising to BRL 5.19 shortly after the opening of trades, it dropped to BRL 5.13 shortly before 2 pm and rose again in the late afternoon.
The US currency rose 0.31% in November. In 2022, the currency accumulates a low of 7.07%.
The stock market had a troubled day. The B3 Ibovespa index closed at 113,580 points, down 2.22%. The indicator was pressured by US stock exchanges, which fell with the uncertainty in the legislative elections in the United States, held yesterday (8), and by the fall in the profit of a large bank in the third quarter, influenced by the increase in default.
The dollar had a day higher against major currencies reflecting the adjusted result of the vote that will define control of the US House and Senate for the remaining two years of President Joe Biden’s administration. The poll did not confirm a major victory for the Republican Party, with the Senate election in a key state, Georgia, heading for the second round on December 6.
In Brazil, the financial market was waiting for a definition around the mechanism that the government of president-elect, Luiz Inácio Lula da Silva, will choose to withdraw up to R$ 175 billion from the spending cap in the 2023 Budget. After meeting with the president of the Chamber of Deputies, Arthur Lira, Lula said he preferred a proposed amendment to the Constitution to make the changes viable.
*with information from Reuters
