Dollar rises to R$ 5.52, and the stock market closes at the lowest level in a year

Dollar drops to R$ 4.78 with foreign market and GDP disclosure

The disclosure of the Brazilian Gross Domestic Product (GDP) in the first quarter and the recovery of stock markets abroad softened the mood in the financial market this Thursday (2). The dollar fell and returned to below R$ 4.80. The stock market rose almost 1%, after being stable yesterday (1st).

The commercial dollar closed the day sold at R$ 4.789, with a decrease of R$ 0.016 (-0.33%). The US currency had a volatile day, alternating highs and lows, but firmed the downward trend towards the end of trading. At the peak of the day, around 10:40 am, the price came close to R$4.81. On the other hand, the currency fell to R$ 4.77 around 2 pm.

The stock market had a quieter day. The B3 Ibovespa index closed Thursday at 112,393 points, up 0.93%. The indicator came to operate close to stability during the morning, but firmed the upward trend, with the improvement of international markets and the performance of Brazilian GDP.

According to the Brazilian Institute of Geography and Statistics (IBGE), the Gross Domestic Product (GDP) grew 1% in the first quarter of 2022 compared to the last quarter of 2021. The expansion was due to the service sector, which resumes activities and recovers from the covid-19 pandemic.

In the external scenario, US stocks started the day lower, but recovered throughout the session, bringing a little more tranquility to the global market. Investors await the release of data on the labor market in the United States.

If the US economy creates more jobs than expectations, the Federal Reserve (Fed, US Central Bank) may raise interest rates even further in the largest economy on the planet. This would lead to a new round of global dollar bullishness, like the one seen in April.

*With information from ReutersDollar drops to R$ 4.78 with foreign market and GDP disclosure

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