One day after approaching R$5, the dollar had a strong rise and closed again above R$5.10. The commercial dollar closed this Tuesday (30) sold at R$5.113, up 1.58%, that is, R$0.08.
The currency started the day low, dropping to R$5.01 in the first minutes of trading, but reversed the movement after the release of data from the North American labor market.
With today’s performance, the dollar accumulates a fall of 1.18% in August. In the accumulated of 2022, the currency retreated 8.3%.
In the stock market, the day was also marked by turmoil. The Ibovespa index, from B3, the São Paulo stock exchange, closed at 110,431 points, down 1.68%. The indicator even operated on the rise at the beginning of the session, but started to fall pulled by the North American stock exchanges and by the decline in the price of commodities (primary goods with international quotation).
This morning, the US Department of Labor reported that job creation in the world’s largest economy increased in July. The good performance in the labor market rekindled expectations that the Federal Reserve (the US Central Bank) will continue to be strict in raising interest rates.
Higher rates in advanced economies encourage the flight of resources from emerging countries, such as Brazil, putting pressure on the dollar and the stock market. The expectation that the United States will enter a recession because of the increase in interest rates has brought down the price of commodities.
The barrel of Brent oil, used in international negotiations, dropped below US$ 100, bringing reflexes to the Brazilian stock market. Petrobras shares, the most traded on the Ibovespa, fell sharply. Ordinary papers (with the right to vote at shareholders’ meetings) fell by 5.17%. Preferred shares (with preference in the distribution of dividends) fell 5.95%.
*With information from Reuters
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