Dollar closes stable waiting for clues from the North American BC

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Amid expectations around the US Central Bank, the dollar closed stable this Thursday (25). The stock market reacted and rose for the third day in a row, recovering the level of 113 thousand points.

The commercial dollar ended the day sold at R$5.112, with a slight increase of 0.02%. The US currency had a volatile day, reaching BRL 5.14 around 10:30 am and falling to BRL 5.09 just before 12 pm, but the price closed in stability as the inflow of foreign resources held the high pressures.

With today’s performance, the dollar retreated 1.08% for the week. The accumulated drop reaches 1.2% in August and 8.32% in 2022.

The stock market had a more favorable day. The B3 Ibovespa index closed this Thursday at 113,532 points, up 0.56%. Deflation in August, according to the official inflation preview released yesterday (24), contributed to the rise in shares of retail companies. The recovery in the international price of iron ore boosted mining shares.

The recovery of North American stock markets also helped the Brazilian stock market. The global financial market is looking forward to the pronouncement tomorrow (26) of the Federal Reserve Chairman (Fed, US Central Bank), Jerome Powell. He will speak at the annual conference of central bank presidents in Jackson Hole, United States, and give clues about the pace of monetary policy in the largest economy on the planet.

In the last two meetings, the Fed raised interest rates in the United States by 0.75 percentage points, the biggest readjustments in almost 30 years. For the next meeting, which will take place at the end of September, investors are divided.

Some investors believe the Fed will raise another 0.75 point. However, another part is betting on a lessening of the monetary tightening, with a rise of 0.5 point, after the retreat of inflation and the deceleration of the North American economy. Higher interest rates in advanced economies encourage capital flight from emerging countries such as Brazil. Smaller-than-expected increases reduce pressure on the stock market and the dollar.

*With information from Reuters

Translated to english by RJ983

From Brazil, by EBC News

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