The dollar closed lower, after the sharp rise on Tuesday (6), with investors selling currency to pocket recent gains. The commercial dollar ended this Thursday (8) sold at R$ 5.206, with a decrease of R$ 0.032 (-0.61%). The price even dropped to R$ 5.19 in the morning, but gained strength in the afternoon.
Despite rising almost all over the planet, the dollar fell in Brazil to compensate for the drop in yesterday’s session (7), in which the market did not open because of the Independence Day holiday. The commercial euro, which was below the dollar in recent days, rose 0.37% to close at R$5.206, the same level as the dollar, after the European Central Bank raised basic interest rates by 0.75 percentage point, the highest increase since the creation of the single currency.
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In the stock market, the day was marked by fluctuations. The Ibovespa index, from B3, the São Paulo stock exchange, closed at 109,916 points, up 0.14%. The indicator started the day higher, dropped 1% in the early afternoon and rebounded towards the end of the session.
This Thursday, the president of the Federal Reserve (the US central bank), Jerome Powell, returned to make statements that the agency is committed to controlling inflation, which increases the chances of the agency raising, for the third time in a row. , US interest rates at 0.75 point in two weeks. Higher rates in advanced economies encourage capital flight from emerging countries such as Brazil.
At the same time, prospects for the Chengdu region of China to come into lockdown because of increases in covid-19 cases affected the performance of commodities (primary goods priced by the international market), pushing oil shares down. However, there was an adjustment movement to compensate for yesterday’s strong increases in international stock exchanges, which made several stocks close higher on the Brazilian stock exchange.
*With information from Reuters
