In a day of international volatility, the dollar closed slightly higher after soaring during the morning. The stock market detached itself from the US stock exchanges and closed higher, driven by the cut in global oil production.
The commercial dollar closed this Wednesday (5) sold at R$ 5.184, up by R$ 0.016 (0.31%). The price had a day of fluctuations, reaching R$ 5.24 around 11:30 am and decelerating to R$ 5.17 around 4:00 pm.
The stock market had a day of gains. The B3 Ibovespa index closed at 117,198 points, up 0.83%. Despite the fall in US stock markets, the indicator rose driven by the decision of the Organization of Petroleum Exporting Countries (OPEC) to cut the deepest fuel production since the beginning of the covid-19 pandemic.
The decision made the international price of oil rise 2% and benefited Petrobras shares, the most traded on the stock exchange. Ordinary shares (voted at a shareholders’ meeting) rose 3.54%. Preferred shares (with preference in the distribution of dividends) appreciated by 3.76%.
The dollar rose across the globe after the release of data showing that demand for labor in the United States remained strong in September. In addition, Federal Reserve officials (Fed, US Central Bank) once again stated that interest rates will remain high for as long as necessary to contain inflation in the country, which is at the highest level in 41 years.
High rates in developed countries encourage capital flight from emerging countries. However, the cut in global oil production has helped to contain the withdrawal of financial resources in major producers such as Brazil.
* With information from Reuters
