06/24/2024 – 17:29
After recent advances, the dollar registered this Monday, the 24th, the second consecutive session of decline in Brazil, returning to below R$ 5.40, in a movement favored by the search for higher risk currencies around the world and with investors waiting for important announcements throughout the week.
The dollar spot ended the day at R$5.3904 on sale, down 0.94%, after reaching its highest closing value in almost two years last Thursday. See quotes.
In the last two business days, the US currency accumulated a drop of 1.31%.
Ibovespa rises on time with Magalu in the spotlight
Ibovespa closed higher, marking the fifth consecutive increase, in a session that saw Magazine Luiza soaring 12% with the retailer’s agreement with AliExpress, while Sabesp advanced 4% after the launch of a share offering that will privatize the basic sanitation company paulista.
The Ibovespa closed up 1.07%, at 122,636.96 points, having recorded 121,307.01 points at its minimum and 122,839.73 points at its maximum of the day.
“We are almost at zero for the month and with a drop of around 9% for the year. It doesn’t seem like a victory to me,” said Reach Capital’s investment director, Ricardo Campos, highlighting, however, that the Central Bank’s unanimous decision to maintain the Selic at 10.50% last week was a great relief.
He highlighted that most macroeconomic indicators show a benign scenario, with current inflation at a reasonably good level, low unemployment, growing wages, very good external accounts, as well as the GDP growth forecast of around 2% looks good reasonable too.
“What really remains is the fiscal problem”, he pondered.
On Tuesday, the BC releases the minutes of last week’s Monetary Policy Committee (Copom) meeting and financial agents should look to the document for more explanations about the decision announced on Wednesday, as well as possible signals about the next steps of the monetary authority.
The São Paulo stock exchange took off in this Wall Street session, which had a mixed closing, with the Nasdaq and the S&P 500 falling, while the Dow Jones advanced.
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