On the day Fernando Haddad was confirmed as the future finance minister, the dollar rose, influenced both by the internal scenario and by inflation data in the United States. The stock exchange rose slightly, supported by shares of mining companies, which are recovering after the relaxation of restrictions against covid-19 in China.
The commercial dollar closed this Friday (9) sold at R$5.246, up R$0.03 (+0.57%). The price reached R$5.27 around 11:00 am, slowed down to R$5.22 around 1:00 pm and gained strength again throughout the afternoon.
With today’s performance, the US currency rose 0.61% for the week. The currency accumulates an increase of 0.84% in December and drops 5.92% in 2022.
The stock market had a day of slight recovery after reaching the lowest level since August yesterday (8). The B3 Ibovespa index closed at 107,520 points, up 0.25%. The reopening of the Chinese economy, a major consumer of raw materials, contributed to the increase in the index. On the other hand, the drop in oil prices on the international market pushed down oil company shares, the most traded on the Brazilian stock exchange.
The rise in the dollar was not only due to the internal market, marked by Haddad’s announcement at the Ministry of Finance. The US currency rose across the planet after producer inflation in the United States was above forecast in November, which increases the chances of the Federal Reserve (Fed, US Central Bank) maintaining the pace of monetary tightening .
In the last four meetings, the Fed raised interest rates by 0.75 percentage points each time. For the next meeting, which will take place on Tuesday (13) and Wednesday (14), investors are divided between a new readjustment of 0.75 points and an increase of 0.5 points. High interest rates in advanced economies stimulate capital flight in emerging countries, such as Brazil, putting pressure on the dollar and the stock exchange.
*With information from Reuters