Tensions around the tightening of monetary policy in the United States caused the dollar to have another high day. The currency approached R$4.75 and practically canceled out the fall observed in April. The stock exchange interrupted a sequence of three consecutive falls and rose pulled by Petrobras shares and the North American stock exchanges.
The commercial dollar closed this Thursday (7) sold at R$ 4.741, up by R$ 0.026 (+0.56%). The currency even opened lower, but went up as soon as the North American market opened. At the maximum of the day, around 1 pm, the price reached R$ 4.77.
With today’s performance, the US currency accumulates a drop of just 0.42% in April. In 2022, the currency records a decline of 14.97%.
The stock market had a day of recovery. The B3 Ibovespa index closed at 118,862 points, up 0.54%. After operating downwards for most of the day, the indicator recovered towards the end of the session, influenced by the rise in US stock exchanges and Petrobras shares, which rose after the definition of the future president of the state-owned company.
The appointment of former Secretary of the Ministry of Mines and Energy José Mauro Ferreira Coelho to be the new president of Petrobras was well received by investors. The company’s common shares (with voting rights at shareholders’ meetings) rose 5.18%. Preferred papers (with preference in the distribution of dividends) appreciated by 5.22%. Shares most traded on the stock exchange, Petrobras shares have the greatest weight in the Ibovespa index.
Internationally, the dollar continued to rise against the main currencies after the announcement that unemployment insurance claims in the United States fell last week. For investors, this suggests that the labor market is close to saturation and that the Federal Reserve (Fed, US Central Bank) may raise interest rates by 0.5 percentage point at its next meeting in May. Higher rates in advanced economies lead to capital flight from emerging countries such as Brazil.
* With information from Reuters
Translated to english by RJ983
From Brazil, by EBC News