The interbank dollar was traded in the average of transactions at $42.54 in Uruguay, with a fall of 0.48% compared to Tuesday.
This waythe exchange rate returned to the range of $42.50 in the wholesaler, after three days of bullish behavior. This way, the dollar lost the appreciation it had accumulated in the first days of March and returned to the levels of the end of February. In the ACumulative annual, the greenback has weakened 4.8% against the Uruguayan peso.
On the BROU public board, the dollar was offered at the close of this Wednesday at $41.35 for purchase and $43.75 for sale.
For its part, In the Brazilian market, the dollar also weakened against the real (-0.8%) and was one step away from leaving the range of 5 reais (5.01), on a day when the stock market rose 1.8%.
However, in Argentina, the blue dollar rose again. The parallel price registers this Wednesday an increase of 2 units to settle at 201 Argentine pesos for the purchase and 204 for the sale, with which it continues to cut part of the strong drops that it registered during the last weeks. With this new advance, the blue dollar widens the gap with respect to the official exchange rate, although it is still well below 100%. Specifically, the parallel now marks a difference of almost 88% compared to the wholesaler and around 79% compared to the retailer.
For his part, the The exchange rate in Chile stood at 806.58 Chilean pesos per dollar, which means a decline of 4.45 units compared to Tuesday’s session., according to Bloomberg. On his side, the Dollar Index, indicator that compares the US currency with a basket of global currencies, fell 1.16% this day.
market optimism
Investors are optimistic some signs of rapprochement in the last few hours between Russia and Ukraine. Ukrainian President Volodímir Zelenski would be willing not to continue requesting NATO entry, in addition to the possibility of giving up some territories.
“Today we see an increase in risk appetite amid news and market rumors that a diplomatic solution is possible, in order to end the conflict that affects Russia and Ukraine. In fact, today Ukraine’s presidential adviser has said that his country is ready for a diplomatic solution,” said XTB Latam Markets Strategist Sebastián Espinosa.
“This improvement in market sentiment has caused the dollar to have strong setbacks globally today, which leads the Dollar Index to approach the 98-point floor again, falling close to 1%, a variation little usual for this index, which tends to maintain little volatility,” he added.
Lhe European and US stock markets rebounded strongly this Wednesdaywhile oil fell after days of market turmoil over the Russian invasion of Ukraine.
The New York Stock Exchange opened sharply higher after Monday’s volatile and negative session. By 3:00 p.m. GMT, the Dow Jones index was up 1.56% and the Nasdaq 1.97% at the open.
In Europe, the stock markets of Frankfurt and Paris registered rises of more than 7% -7.9% and 7.1% respectively- in a movement in search of opportunities after several sessions in decline. The FTSE index in Milan rose 6.9%, the Ibex 35 in Madrid gained 4.8% and the FTSE 100 in London 3.3%.
“Markets posted a sizeable rebound today in Europe, led by the DAX with decent sectoral gains across the board, helped by comments from the Russian Foreign Ministry, which stated that its goals in Ukraine would be better achieved through of talks,” said CMC Markets analyst Michael Hewson.
According to Patrick O’Hare, an analyst at Briefing.com, this rally can be interpreted as investors feeling more confident about the situation between Russia and Ukraine.
For Oanda analyst Craig Erlam, the rebound in European stocks rather briefly interrupts a prolonged recession, he explains to AFP. “It looks like we are seeing a temporary corrective move,” said Erlam, who believes the rally will not last as Russia continues its offensive against Ukraine.
“The invasion is still going on, sanctions are still being imposed and oil prices are still high,” he stresses. “None of that is conducive to a sustainable stock market recovery,” she analyzes.
Oil and gas prices fell sharply on Wednesday, in part as investors believe the threat of a European embargo on Russian hydrocarbons is receding.
Both the United States and the United Kingdom announced an embargo on the import of Russian oil and gas on Tuesday.
In contrast, the countries of the European Union, which receive approximately 40% of their gas imports from Russia and a quarter of their oil imports, chose to set the objective of reducing their imports of Russian gas by two thirds.
The barrel of Brent from the North Sea fell sharply on Wednesday after the spike in recent days, after a gesture of diplomatic opening by the Ukrainian presidentVolodimir Zelenski, and the decision of the United Arab Emirates to increase its crude oil production.
A) Yes, a barrel of Brent from the North Sea for delivery in May fell 13.15% to US $ 111.14 in Londonwhile New York-listed West Texas Intermediate (WTI) fell US$12.12% to US$108.70.
The idea that the European market will be able to continue to count on the supply of the world’s second largest exporter of crude oil allowed prices to move away from the records reached in recent days.
With AFP and Diario Financiero-RIPE
