01/30/2024 – 9:52
The dollar operates lower in the local market this Tuesday, 30th, reflecting the fall in long interest rates on Treasuries and the North American currency compared to rival pairs abroad. The adjustment is limited after the 1.76% decline in iron ore in China, this Tuesday. Not long ago, oil prices showed a slight drop.
Investors operate in anticipation of the outcome of the two-day meetings of the Monetary Policy Committee (Copom) and the Federal Reserve (Fed, the North American central bank), which announce interest rate decisions on Wednesday. Economic data is also expected, such as labor market numbers (Jolts report) and US consumer confidence, following the publication of Gross Domestic Product (GDP) readings from European countries earlier.
This Tuesday, in the futures market, the rolling of foreign exchange contracts tends to intensify as, tomorrow, the last Ptax rate for January will also be defined, which will serve as a reference for adjustments to foreign exchange contracts and corporate balance sheets.
Investors also look at the Focus bulletin and one of the highlights is the slowdown in the IPCA estimate for 2024 from 3.86% to 3.81%.
At the end of the morning, the Central Bank will offer up to 16,000 swap contracts (US$800 million) to begin rolling over the maturity of these contracts on April 1, 2024. In total, maturities of US$15, 1 billion in April, for a total of 301,900 contracts.
Abroad, among emerging currencies, the Mexican peso reduced its rise against the dollar, after a preliminary reading of Mexico's GDP advanced less than expected in the fourth quarter compared to the previous one. At 9:35 am (Brasília time), the dollar fell to 17.2037 5 pesos, from 17.2314 pesos late yesterday afternoon.
Earlier, Germany's GDP fell 0.3% in the fourth quarter of 2023 compared to the previous three months, in line with analysts' expectations. The euro zone's GDP remained stable in the fourth quarter of 2023, at the margin, and surprised analysts, who predicted a fall of 0.1%. With stability, the bloc avoided entering a technical recession at the end of last year, after its economy shrank 0.1% in the third quarter.
On the spot market, at 9:45 am, the dollar fell 0.04%, to R$4.9446, after renewing its minimum at R$4.9352 (-0.22%). The dollar for February lost 0.20%, to R$4.9440.
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