The decrease in tensions abroad did not help the Brazilian financial market on Monday (6). The dollar rose and returned to close to R$ 4.80. The stock market fell for the second straight session and closed at the lowest level in just over two weeks.
The commercial dollar ended this Monday sold at R$4.796, up by R$0.018 (+0.37%). The US currency started the day low, reaching R$ 4.75 shortly after 9 am. However, still during the morning, the currency reversed the movement and started to rise. At the maximum of the day, around 2 pm, it was close to R$ 4.81.
On the stock market, the day was similar, with trading starting in good spirits, but deteriorating throughout the session. The B3 Ibovespa index closed at 110,986 points, down 0.82%. The indicator is at its lowest level since May 20.
The day started with the financial market reacting well to the easing of lockdown measures in China. This makes the dollar open lower; and the stock market is on the rise. However, domestic market data changed the pace of negotiations.
With several weeks delay, the Central Bank (BC) released the Focus bulletin, a weekly survey of financial institutions. Market analysts increased to 8.89% the Inflation estimate for this year.
The projection brought instability to the market, as the BC, according to the most recent minutes of the Monetary Policy Committee (Copom), should end the cycle of increases in the Selic rate (basic interest rates in the economy) at the meeting on the 14th and 15th of December. June. High inflation reduces real interest rates (difference between interest rates and inflation), reducing the inflow of dollars into the country.
* With information from Reuters
