The expectation around inflation in the United States interrupted the sequence of three consecutive falls in the dollar. The stock market spent most of the day down, but recovered and closed higher with the help of commodities (primary goods with international quotations).
The commercial dollar closed this Tuesday (9) sold at R$ 5.13, up by R$ 0.017 (+0.33%). The currency started the day low, reaching R$ 5.09 just before 11 am. However, pressure from the foreign market and the purchase of dollars by investors who took advantage of the low price pushed the price up.
In the stock market, the day was also marked by volatility. The B3 Ibovespa index closed at 108,651 points, up 0.23%. With gains for the sixth straight session, the index was boosted by mining and oil companies, which reacted to the rise in commodity prices, and by the release of bank balance sheets, which showed profits in the second quarter.
The dollar rose across the planet, with investors awaiting the release tomorrow (10) of consumer inflation in July in the United States. If the numbers come higher than expected, pressure will increase for the Federal Reserve (Fed, US Central Bank) to raise interest rates by 0.75 point at the next meeting. Higher rates in advanced economies encourage capital flight from emerging countries such as Brazil.
In Brazil, the disclosure that the official inflation closed July at -0.68%the lowest rate in the historical series for the month, reduced pressure for the Central Bank to increase the Selic rate to 14% per year in September.
In the minutes of the Monetary Policy Committee (Copom), published today, the monetary authority did not rule out the possibility of raising the Selic (economy’s basic interest rates) next month. The agency, however, informed that the decision will depend on the behavior of inflation and other economic variables until then.
*With information from Reuters
