On a holiday in the United States, optimism prevailed in the financial market. The dollar fell to its lowest value in 40 days. The stock exchange closed higher for the third day in a row and returned to the level of 107 thousand points.
The commercial dollar ended this Thursday (11) sold at R$ 5.404, with a retreat of R$ 0.096 (-1.74%). At the low of the day, around 2:15 pm, the price reached R$ 5.39. The currency is at its lowest value since October 1st, when it had closed at R$5.369, and had the biggest daily drop since September 9, when it fell 1.85%.
With today’s performance, the currency accumulates fall of 2.15% in the week and 4.28% in November. In 2021, the dollar rises 4.14%.
In the stock market, the day was also marked by euphoria. The B3 Ibovespa index closed at 107,595 points, up 1.54%. The indicator reached the highest level since October 25th. The stock market advances 2.64% this week and 3.96% in November, but accumulates a fall of 9.6% this year.
Without the US market as a reference, the dollar fell based on the expectation that the Central Bank (BC) will accelerate the Selic rate hike in response to the official inflation spike, which reached, in October, the highest level for the month since 2002. Higher interest rates tend to encourage the entry of foreign capital into higher risk countries, such as Brazil.
Another factor that contributed to optimism in the financial market was the approval, by the Chamber of Deputies, of the proposed amendment to the Constitution (PEC), which divides the precatories and changes the calculation of the spending ceiling. Although the measure will increase public spending next year, analysts believe that the rejection of the PEC would lead the government to issue an extraordinary public calamity decree, which would definitely violate the ceiling, rather than just making adjustments to the formula.
* With information from Reuters
