On a day of technical adjustments abroad and expectations in Brazil, turbulence marked trading in the financial market. The dollar rose sharply after seven consecutive falls and returned to above R$5.50. The stock market fell for the fourth consecutive time and approached 131,000 points.
The commercial dollar closed this Friday (20) sold at R$5.521, up R$0.097 (+1.78%). The price opened close to stability, but soared after the opening of the North American markets, until closing at the day’s high.
Despite Friday’s rise, the US currency has accumulated a 2.51% drop in September. In 2024, the currency will rise 13.76%.
As in recent days, the stock market continued to fall. The Ibovespa index, from B3, closed at 131,065 points, down 1.55%. At its lowest level since August 9, the indicator fell 2.83% in the week.
The dollar had a day of global growth as foreign investors took advantage of the drop in recent days to buy the currency. In addition, China’s maintenance of basic interest rates did not help exporting countries. commodities (primary goods with international quotations), such as Brazil. The expectation was that the Chinese Central Bank would reduce interest rates to stimulate the second largest economy on the planet, but this did not happen.
In relation to the stock market, shares continue to reflect the Selic rate increase (basic interest rates of the economy), which encourages investors to avoid risky investments and migrate to government bonds and other fixed income investments, with lower risk. In the statement after the meeting on Wednesday (18), the Monetary Policy Committee (Copom) indicated that it may be more aggressive in the next meetings.
On the domestic front, investors were also expecting an announcement of new freezes in the 2024 Budget. The Ministry of Planning will release tonight the Bimonthly Revenue and Expenditure Assessment Report, a document that guides the execution of the Budget.
* With information from Reuters
