The fall in inflation in the United States made the global financial market have a day of euphoria. The dollar fell below R$4.90 and closed at its lowest price in almost two months. The stock market rose more than 2% and reached the highest level since August 2021. The commercial dollar closed this Tuesday (14) sold at R$4.862, with a sharp drop of R$0.046 (-0.93% ).
The price opened close to stability, but plummeted with the announcement that consumer inflation in the United States slowed down in October and was below expectations. This was the third consecutive fall of the US currency, but, in the previous two sessions, the declines had been of small intensity. The price is at its lowest value since September 18, when it closed at R$4.85. The currency accumulates a drop of 3.55% in November and 7.92% in 2023.
In the stock market, the day saw strong gains. The Ibovespa index, from B3, closed at 123,166 points, with a strong increase of 2.29%. At the highest level since August 3, 2021, the indicator was driven by the prospect that the cycle of rising interest rates in the United States is close to an end.
This Tuesday, the United States Department of Labor reported that consumer inflation in the world’s largest economy was zero last month and 3.2% in the 12 months ending in October. In September, the index had risen 0.4% and added 3.7% in 12 months.
The deceleration in prices reduces pressure on the Federal Reserve, the North American Central Bank, to raise basic interest rates in the United States, currently between 5.25% and 5.5% per year. Lower interest rates in advanced economies encourage the migration of capital to emerging countries, such as Brazil, putting downward pressure on the dollar and increasing the value of the stock market.
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