09/05/2024 – 18:56
On a day of relief in the global financial market, the dollar closed below R$5.60 after the release of data showing a drop in job creation in the United States. The stock market rose for the second day in a row, amid expectations surrounding a reduction in US interest rates.
The commercial dollar closed this Thursday (5) sold at R$5.571, down R$0.069 (-1.22%). The price fell throughout the session, until closing at the lowest point of the day.
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The US currency has accumulated a 1.1% drop this week. In 2024, the currency is expected to rise by 14.79%.
The stock market was also marked by relief on the day. The Ibovespa index, from B3, closed at 136,502 points, up 0.29%. Despite the fall in mining stocks, caused by the slowdown in the Chinese economy, the expectation that interest rates in the United States will start to fall in September prevented the stock market from falling.
In August, the private sector in the United States added 99,000 jobs. This is the lowest level of job creation since January 2021.
The slowdown in the labor market increases the chances that the Federal Reserve (Fed, the US central bank) will cut the base interest rate in the world’s largest economy by 0.5 percentage points in September, instead of just 0.25 points. Lower rates in advanced economies encourage the migration of financial capital to emerging countries, such as Brazil.
*With information from Reuters
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