Ibovespa Futuro falls with focus on BC and Finance ahead of US employment report

The Ibovespa Futuro operates with a slight drop this Tuesday (2), with attention focused on movements in the Ministry of Finance and the Central Bank, while investors abroad await the jobs report (Jolts) in the USA.

The BC will intervene in the exchange rate for the first time in more than a year, with an additional exchange swap auction equivalent to US$1 billion. Meanwhile, the Minister of Finance, Fernando Haddad, is scheduled to participate in a session of the Brazil Investment Forum at Bradesco BBI, in São Paulo, at 5 pm.

At 9:14 am (Brasília time), the future index due in April was operating with a devaluation of 0.04%, at 127,455 points.

On Wall Street, US futures indexes operate lower, while investors reassess their expectations for interest cuts by the Federal Reserve following data from the day before and before the employment report (Jolts). Traders are pricing in a 62% chance that the Fed will cut rates by 25 basis points in June, with two more reductions coming in 2024, according to CMEGroup’s FedWatch tool.

This morning, the Dow Jones Futures fell 0.48%, S&P Futures fell 0.37% and Nasdaq Futures fell 0.47%.

Dollar and foreign market

The commercial dollar operates with a drop of 0.52%, quoted at R$5.032 when buying and R$5.033 when selling. The dollar futures (DOLFUT) fell 0.36%, reaching 5,048 points.

In the interest rate market, futures contracts mostly operate with gains. DIF25 operates stable, at 9.93%; DIF26, +0.01 pp, at 9.95%; at DIF27, +0.02 pp, at 10.23%; DIF28, +0.02 pp, at 10.54%; DIF29 +0.02 pp, at 10.76%.

Asia and the Pacific markets closed with no single direction, with gains led by Hong Kong amid excitement over Xiaomi’s debut in the electric vehicle market.

Elsewhere in Asia, Japan’s Nikkei rose marginally 0.09% in Tokyo to 39,838.91 and South Korea’s Kospi rose 0.19% in Seoul to 2,753.16, with both indices supported by shares linked to chips, while Taiex registered a gain of 1.21% in Taiwan, at 20,466.57 points. On the other hand, markets in mainland China were in the red, interrupting a sequence of three positive trading sessions.

European markets are mostly trading higher, with major markets returning to action after the Easter weekend. Investors will digest new data on euro zone manufacturing, German inflation and UK house prices.

The HCOB euro zone manufacturing purchasing managers index (PMI) fell to 46.1 in March from 46.5 in February. UK house prices rose 1.6% in March compared to the previous year, marking the fastest increase since December 2022.

Oil prices rise this Tuesday, based on upbeat industrial data and escalating tensions in the Middle East. Iron ore prices in China also closed positive.