The reduction in economic pessimism abroad and bets on interest rates in Brazil caused the dollar to experience a second consecutive day of significant decline. The stock market fell for the first time after three consecutive rises.
The commercial dollar closed this Tuesday (23) sold at R$ 5.13, with a decrease of R$ 0.038 (-0.74%). The price started rising, reaching R$5.18 in the first minutes of trading, but reversed its movement after the opening of markets in the United States. At the low of the day, around 3:30 pm, it reached R$5.12.
The North American currency is at its lowest level since the 12th, when it closed at R$5.12. The currency accumulates an increase of 2.29% in April and 5.7% in 2024. Last week, the dollar approached R$5.30.
In the stock market, the day was more tense. The Ibovespa index, from B3, closed at 125,148 points, with a drop of 0.34%. The indicator rose during the afternoon, but did not sustain the increase, due to the fall in the price of iron on the international market and the expectation that the Central Bank (BC) will reduce the pace of cutting the Selic Rate (the economy’s basic interest rate). ).
This Tuesday, the global market had a day of relief with the announcement that the index of purchases by companies in the United States reached the lowest level in four months. The slowdown in the indicator, which serves as a preview for consumption, increases the chances of the Federal Reserve (Fed, North American Central Bank) starting to cut basic interest rates in the largest economy on the planet in July.
In Brazil, the publication of the Focus bulletin, a survey of financial institutions carried out by the Central Bank (BC), contributed to the fall of the dollar, but discouraged stock market investors. Market agents raised the Selic Rate estimate at the end of 2024 from 9% to 9.5% per year. Higher interest rates in Brazil reduce pressure for the dollar to rise, but cause falls on the stock market because investors tend to prefer less risky investments, such as government bonds.
*With information from Reuters
