Dollar rises to R$5.25 and Bovespa closes the day lower amid global caution

Dollar rises to R$5.25 and Bovespa closes the day lower amid global caution
Dollar rises to R$5.25 and Bovespa closes the day lower amid global caution

Caution around the global economy was imposed on the exchange and the handbag this Friday, 23rd. The Ibovespa closed down 2.06%, at 111,716 points and the dollar up 2.62%, to R$ 5.25.

The signs of a worsening in the European economy, attested by a disappointing reading of economic indicators, and the prospect of more intense and stronger monetary tightening in the United States, given the harsh tone of the Federal Reserve (Fed, US central bank) in fighting inflation, caused a global run on the US currency and depressed commodity prices.

The Ibovespa closed down 2.06%, at 111,716 points this Friday, 23 Photo: Werther Santana/Estadão

“The real had been holding up well in recent days, with a good performance against a basket of currencies. But today, with the stock markets picking up, falling commodities and the search for the American currency, it did not resist”, says Rodrigo Jolig, from Alphatree Capital.

On the stock exchange, the Ibovespa closed down 2.06%, at 111,716 points, after closing the previous day up 1.91%, at 114,000 points, the highest level since April. Even so, the B3 benchmark had a gain of 2.23% in the week, after a loss of 2.69% in the previous week. In the month, it rises 2% and, in the year, 6.58%.

Caution regarding the pace of activity in the largest economies put pressure on oil, directly affecting the performance of the Ibovespa, with losses exceeding 6% for both Petrobras ON (-7.06%) and PN (-6.26%) in closure.

Even with an increase of 1.34% for iron ore in Dalian, China, Vale ON (-2.07%) and steel companies (CSN ON -1.16%, Usiminas PNA -2.31%) did not escape of the negative sign in the session, as well as another sector of great weight in the index, the financial sector (Itaú PN -1.97%, Bradesco ON -2.07%).

“The interpretation that the world recession will reduce global demand for commodities – the same scenario was drawn for iron ore and steel, sectors that fell by an average of 2.5%”, points out Gabriel Felix, specialist in variable income at Blue3.

WTI crude for November closed down 5.69% ($4.75) at $78.74 a barrel, while global benchmark Brent dropped 4.76% ($4.31) , at US$ 86.15 per barrel, for the same month.

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The article is in Portuguese

Tags: Dollar rises R5 .25 Bovespa closes day global caution

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