The uncertainties surrounding the proposed amendment to the Constitution (PEC) which parcels out the court orders and alters the calculation of the spending ceiling made the dollar rise and the stock market fall this Monday (8). The US currency came close to R$ 5.60, but slowed down towards the end of the day. The stock market experienced a rally in the morning, but ended the day with a slight drop.
The commercial dollar closed this second at R$5.541, up R$0.018 (+0.33%). The price reached R$ 5.59 at the maximum of the day, just before 10 am, but cooled down throughout the day with the relief in the foreign market.
In the stock market, the B3 Ibovespa index closed at 104,781 points, down just 0.04%. Around 11:45 am, the indicator rose by 0.82%, but lost strength during the afternoon, until it reversed the movement and started to fall towards the end of the session.
Tomorrow (9), the vote is scheduled for the second round of the PEC dos Precatórios. After passing with a tight scoreboard in the first round, with four votes more than necessary, the proposal faces uncertainties in the next vote after the Minister of the Supreme Court (STF) Rosa Weber grants an injunction suspending the execution of the rapporteur’s amendments. The plenary of the STF will judge the merits of the case on Wednesday (10).
The relief in the international market failed to offset the tensions in the domestic financial market. The dollar fell against the main international currencies on the expectation that the Federal Reserve (Fed, US Central Bank) will keep interest rates in the largest economy on the planet at the lowest level in history for a long time, despite having started to reduce purchases of titles put into practice during the covid-19 pandemic.
The record performance of the Chinese trade balance in October also contributed to reduce pressure on emerging countries. In Brazil, shares of companies that export commodities, such as minerals and agricultural products, rose with the performance of Chinese trade, currently the country’s largest trading partner.
* With information from Reuters
