Dollar closes higher, with higher-than-expected payroll burying the chances of the Fed starting easing in March

Dollar closes higher, with higher-than-expected payroll burying the chances of the Fed starting easing in March
Dollar closes higher, with higher-than-expected payroll burying the chances of the Fed starting easing in March
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The dollar closed sharply higher against the real this Friday, following the currency’s adjustment against its peers abroad and also the increase in Treasury interest rates following the release of the payroll.

The creation of much higher than expected jobs in the US in January and the upward revision of the numbers for November and December practically buried the chances of the Fed starting easing in March and cast greater doubt on the possibility of the interest rate cut starting in May .

In addition to the adjustment to the new external scenario, the rise in the currency here also reflected the migration of foreign resources from the local market to the American stock market, attracted by the strong results of American technology companies.

According to B3 data released today, foreign investors withdrew R$7.9 billion from the Brazilian stock exchange, the largest foreign capital outflow for the month since 2020, when R$19.157 billion left.

The spot dollar closed up 1.07%, at R$4.9683, after fluctuating between R$4.9083 and R$4.9763. During the week, the currency rose 1.17%. At 5:02 pm, the dollar futures for March advanced 1.03%, to R$4.9805.

Outside, the DXY index rose 0.86%, to 103,930 points. The euro fell 0.72% to US$1.0794. And the pound fell 0.84%, to US$ 1.2638.

Date Purchase Sale Variation Variation
02/1/2024 4.9145 4.9151 -0.42% -0.0303
02/2/2024 4.9677 4.9683 1.08% 0.0532

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