With expectations surrounding the basic interest rates in Brazil and the United States (US), the financial market had a day of relief this Monday (16). The dollar fell to close to R$5.50 and reached its lowest level in 20 days. The stock market rose slightly and returned to exceed 135 thousand points.
The commercial dollar closed the day trading at R$5.51, down R$0.057 (-1.03%). The price opened slightly higher, but reversed the trend after the opening of the North American market.
The price is at its lowest value since August 27. With today’s performance, the US currency has accumulated a drop of 2.18% in September. In 2024, the currency will rise 13.54%.
The stock market was more volatile today. After falling towards the end of trading, the Ibovespa index, from B3, recovered in the final stretch of trading and closed Monday up 0.18%, at 135,118 points.
Without the release of relevant economic data, expectations regarding interest rates in Brazil and the United States influenced investors. On Wednesday (18), both the Federal Reserve (Fed, the US Central Bank) and the Monetary Policy Committee (Copom) of the Brazilian Central Bank will decide on the basic interest rates.
In the United States, the Fed is expected to lower interest rates for the first time since 2020. The question is whether the rate will fall by 0.25 or 0.5 percentage points. In Brazil, Copom is expected to do the opposite and promote the first interest rate hike in two years. According to the Focus bulletin, a weekly survey of financial institutions released by the Central Bank, the Selic rate should rise by 0.25 points at this meeting.
*With information from Reuters
