One day after reaching the lowest level in eight weeks, the dollar rose, influenced by the international market. The stock market tumbled after seven straight rallies, driven by profit taking as investors sell shares to pocket recent gains.
The commercial dollar ended this Thursday (11) sold at R$5.158, up by R$0.073 (+1.44%). The price came to operate close to stability during the morning, but started to shoot after statements by Federal Reserve leaders (Fed, US Central Bank) that the body will continue to be strict in the fight against inflation in the United States.
With today’s performance, the dollar accumulates a drop of 0.31% in August. In 2022, the decline reaches 7.5%.
In the stock market, the day was marked by adjustments. After yesterday’s euphoria, when it closed at its highest level in more than two months, the Ibovespa index, on the B3, closed at 109,718 points, down 0.47%. Investors took advantage of the high stock prices, after seven consecutive sessions of gains, to sell the shares.
Yesterday (10), the global financial market had a day of relief after the announcement of consumer inflation in the United States, which decelerated for the first time since the Fed started raising interest rates in the country. Today, figures confirmed the deceleration of producer inflation, but the statement by Fed directors that the monetary tightening will continue affected the market.
The new data had raised expectations that the Fed would raise US policy rates by 0.5 percentage point at its next meeting. However, statements by the directors indicated that part of them will vote for a readjustment of 0.75 point, as occurred in the last two meetings. Higher interest rates in advanced economies encourage capital flight from emerging countries such as Brazil.
*With information from Reuters
