Worries about the slowdown in the Chinese economy and fears of recession in the United States returned to weigh on the market this Tuesday (16). After spending two days below R$5.10, the dollar rose. The pressure, however, did not affect the stock market, which had its third consecutive rise.
The commercial dollar closed this Tuesday at R$5.141, with an appreciation of R$0.049 (+0.96%). The price operated higher throughout the session. At the maximum of the day, around 2:30 pm, it reached R$ 5.15.
Despite today’s high, the dollar accumulates a fall of 0.73% in August. In 2022, the decline reaches 7.8%.
The stock market resisted external pressures. The B3 Ibovespa index closed at 113,512 points, up 0.43%. The indicator alternated highs and lows, but firmed the uptrend towards the end of the session, boosted by mining stocks, which rebounded from yesterday’s decline.
Since yesterday (15), the global financial market has been under tension due to the release of economic data that prove the slowdown of the Chinese economy. The Asian country is going through a real estate crisis and is affected by the zero covid policy. The weakness in China’s performance mainly affects exporting countries of commodities (primary goods with international quotation), such as Brazil.
The dollar was also pressured by fears of recession in the United States. Some investors took advantage of recent drops to buy the US currency. In Brazil, the beginning of the electoral campaign also affected market operations, increasing volatility during the session.
*With information from Reuters
