The financial market had a day of respite after fluctuations in the dollar. The US currency closed almost stable, after reaching R$ 5.24 at the worst moment of the day. The stock market recovered part of the recent losses and rose almost 2%. The commercial dollar ended this Wednesday (8) sold at R$5.197, with a decrease of only 0.06%. The quotation had a swinging day. Around 9:30 am, it fell to R$5.17, but rose after the opening of the North American market, reaching R$5.24 at the high of the day, around 1:30 pm.
Throughout the afternoon, the US currency lost strength in Brazil, following the performance abroad. With today’s performance, the dollar accumulates a drop of 1.57% in 2022.
In the stock market, the day had greater optimism. The B3 Ibovespa index closed at 109,951 points, up 1.97%. The indicator operated upwards throughout the day, driven by oil companies, which benefited from the rise in oil prices in the international market, and by private banks, which are in the earnings release season.
The external market is still echoing the pronouncements of Federal Reserve (Fed, North American Central Bank) directors, who differ among themselves on the intensity in which basic interest rates in the United States should be raised. The dollar alternated high and low moments against the main currencies of the planet, according to the statements.
Yesterday (7), Fed Chairman Jerome Powell declared that inflation is slowing down, even with unemployment falling in the largest economy on the planet. This favors expectations that the Fed should continue to raise interest rates by 0.25 percentage points in the next meetings. A smaller rise in US rates reduces pressure on emerging countries such as Brazil.
In the domestic market, tensions between President Luiz Inácio Lula da Silva and the Central Bank (BC) eased after the Minister of Institutional Relations, Alexandre Padilha, denied discussions within the government to change the law that granted autonomy to BC . After a meeting of the Political Council of the Coalition, a forum for discussions between the Executive and the Legislative, Padilha said that what is under debate are the economic conditions for reducing the Selic rate (basic interest rates in the economy), by 13.75% per year .
* With information from Reuters
