The recovery of the North American job market brought turbulence to the international financial market. The dollar closed at the second highest value of the year. The stock market fell more than 1% and hit an 11-day low.
The commercial dollar ended this Friday (2) sold at R$4.968, up R$0.053 (+1.08%). The price opened the day lower, but rose from 10:30 am, after the announcement of the opening of 353 thousand job vacancies in the United States in January.
The price is at its highest since January 22nd, when it reached R$4.98. The currency accumulates an increase of 2.37% in 2023.
In the stock market, the day was also tense. The Ibovespa index, from B3, closed at 127,182 points, with a drop of 1.01%. At the lowest level since January 22, the indicator accumulates a drop of 1.38% in the week. Shares of oil companies, mining companies and retailers led the fall this Friday.
The good performance of the North American job market worries investors across the planet because it postpones the start of the fall in interest rates in the United States. This week, the Federal Reserve (Fed, North American Central Bank) maintained the basic interest rates of the largest economy on the planet in a band between 5.25% and 5.5% per year. However, the agency’s statement indicated that rates should only fall in May.
High interest rates in advanced economies encourage capital flight from emerging countries, such as Brazil. The expectation that the Fed will postpone the start of the interest rate drop puts pressure on the dollar and the stock market in developing economies.