The milder tone of the chairman of the Federal Reserve (Fed, the Central Bank of the United States), made the financial market have a day of truce. The dollar closed below R$ 5.60 and fell to the lowest price of the year. The stock market rose almost 2% and reached the second best level of 2022.
The commercial dollar closed this Tuesday (11) sold at R$ 5.58, with a fall of R$ 0.095 (-1.67%). The price opened close to stability, but began to plummet during the negotiations, until it closed close to the low of the day. In the stock market, the day was marked by recovery. The B3 Ibovespa index closed the day at 103,779 points, up 1.8%. The indicator is at the highest level since January 3, when it closed at close to 104 thousand points.
The stock followed the US market, which rose after statements by Fed Chairman Jerome Powell. In a US Senate hearing, Powell said the Fed is more concerned with containing inflation than with compromising US job growth. He also stated that the decision on how the Fed intends to sell the bonds and resources it has bought since the beginning of the covid-19 pandemic will take time to be debated, being discussed in up to four meetings.
The statement was interpreted as a softening of the Fed chairman’s tone and caused investors to rule out further measures. According to market analysts, the expectation that basic interest rates in the United States will rise from March is already incorporated into prices, which led to the realization of profits (sale of assets to pocket recent gains) of those who bought dollars in recent days. .
*With information from Reuters