In a day of relief in the financial market, the dollar fell to the lowest level in a week with the prospects of reopening the Chinese economy and with the decrease in the value of the Proposed Amendment to the Constitution (PEC) of the Transition. The stock market was not so lucky and fell more than 1%, pressured by the fall in the price of commodities (primary goods with international quotation).
The commercial dollar ended this Wednesday (7) sold at R$5.206, down R$0.064 (-1.21%). The price opened close to stability, but fell throughout the session. At the low of the day, around 3:20 pm, it reached R$ 5.18.
The coin is at its lowest level since the 1st, when it closed at R$5.197. With today’s performance, the currency accumulates a rise of just 0.08% in December. In the year, it drops 6.63%.
The stock market had a losing day. The B3 Ibovespa index closed at 109,069 points, down 1.02%. The indicator was pressured by shares of mining and steel companies, which fell due to the release of bad trade numbers from China, a major buyer of raw materials, which reflect the decrease in demand caused by the restrictions of the zero tolerance policy against covid-19. 19.
In relation to the exchange rate, the dollar fell for external and internal reasons. In the domestic scenario, the approval of the Transition PEC by the Senate’s Constitution and Justice Commission contributed to the drop, with a reduction of R$ 30 billion in the amount to be outside the spending ceiling. The new impact, of R$ 168 billion over the next two years, reduced tensions in the financial market.
On the international scene, the reversal of the zero tolerance policy for covid-19, announced by the Chinese government, contributed to the fall of the dollar, especially in emerging countries, which have the Asian economy as their largest trading partner. In addition, the expectation prevailed in the external market that the Federal Reserve (Fed, North American Central Bank) reduce the pace of monetary tightening to avoid a recession in the United States.
*With information from Reuters