The commercial dollar and the stock exchange operated higher this morning (28). At around 10:30 am (GMT), the US currency rose 1.28%, sold at R$5.031, once again following the broad strength of the US currency abroad, where its index against a basket of pairs forte touched the highest levels in two decades.
At the same time, the Ibovespa, the main index of the Brazilian Stock Exchange, was up 0.31%, reaching 109,689.86 points, facing a positive morning for stock futures on Wall Street and supported by the shares of Vale and Petrobras, which released consolidated and operating results, respectively, the day before.
Yesterday (27) the dollar dropped 0.47%, closing at R$4.967 on sale, and the stock exchange closed with a high of 1.05%, at 109,349.367 points.
The value of the dollar published daily by the press, including the UOL, refers to the commercial dollar. For those who are going to travel and need to buy currency at exchange brokers, the value is much higher.
Although it closed the last session down, the dollar recorded a sequence of three daily gains between Friday and Monday, during which time it had jumped more than 8%. This upward trend — which, according to experts, reflects external factors — seemed to regain strength today.
That’s because the dollar index – which measures the performance of the US currency against a basket of six currencies of rich countries – advanced sharply this morning, and reached its highest levels since December 2002, although it returned some gains after negative surprise in US GDP (Gross Domestic Product) data for the first quarter.
The dollar has been supported by the prospect that the US central bank, the Federal Reserve, will accelerate the pace of its monetary tightening amid the challenging inflationary backdrop, XP noted in a morning note. The markets are betting on adjustments of 0.5 percentage point in US interest rates during their next meetings, and some traders do not even rule out a possible dose of 0.75 point.
Higher borrowing costs in the world’s largest economy tend to increase the inflow of funds into the country’s fixed income, which, consequently, favors the dollar.
In a report, Bradesco analysts also drew attention to the decision of the Bank of Japan to maintain its ultra-loose monetary policy today, despite the greater aggressiveness of the Fed and the acceleration of inflation, “reinforcing the depreciation trend of the yen that, in turn, time, sustains the movement of dollar appreciation on a global scale”.
The yen even touched its lowest level in 20 years against the dollar, which was traded higher against most of the main global currencies, also following the advance of the yields of Treasuries, US sovereign bonds.
Meanwhile, investors drew attention to the very busy economic indicators agenda. In the United States, the highlight of the day was the release of GDP, which fell at an annualized rate of 1.4% in the first quarter, against expectations in a Reuters poll of a rise of 1.1%.
Data in Brazil
In Brazil, data on confidence in services, IGP-M, producer prices and credit, collections have already been released in the morning, and the markets are still awaiting Caged figures.
With today’s performance, the dollar accumulates a drop of 10% in 2022. The real is still the leader in performance in the period when compared to other global currencies, but the dollar has already appreciated by almost 9% compared to this year’s lows against the currency Brazilian currency, after falling to close to R$4.60 in early April.
The prevailing view in the market is that the fall in the US currency against the real seen earlier this year was the result of the high level of the Selic rate, currently at 11.75%, and the soaring in international commodity prices after the invasion from Ukraine to Russia.
This content was generated by UOL’s automated news production system and reviewed by the newsroom before being published.