Fears of a global recession provoked by interest rate hikes in several economies made the dollar approach R$5.40 and climb to the highest value since the end of January. The stock market fell for the second session in a row and closed at the lowest level in ten days.
The commercial dollar ended this Tuesday (5th) sold at R$5.389, up by R$0.064 (+1.19%). The price operated on a high throughout the session, reaching R$ 5.40 at the highest of the day, around 2 pm.
The US currency is at its highest price since January 27, when it closed at R$5.42. Despite the highs of recent weeks, the currency accumulates a drop of 3.36% in 2022.
In the stock market, the day was also marked by volatility. The B3 Ibovespa index closed at 98,295 points, down 0.32%. The indicator is at the lowest level since June 23.
The Ibovespa started the day down sharply. After falling 2.1% in the early afternoon, the index recovered towards the end of the session, driven by the rise in US stocks. The movement, however, was insufficient to reverse the fall.
The dollar had a high day across the planet, amid expectations that the US and European economies enter into recession. Data released today showed a sharp slowdown in the euro zone in June. The euro fell to a 20-year low against the dollar.
Fears of a global recession caused the price of oil to fall, harming the Brazilian stock market, which has Petrobras shares with greater weight in the Ibovespa index.
In Brazil, negotiations around the proposed amendment to the Constitution (PEC) that raises social benefits until the end of the year also increase investors’ fears. The version approved by the Senate foresees an impact of R$ 41.25 billion in this year’s Budget.
*With information from Reuters
