Dollar opens high this Friday; follow the quotation – 06/30/2023 – Market

The dollar opened higher this Friday (29) after a session of stability the day before, supported by increased risk aversion abroad and impacted by the closing of the Ptax rate, an exchange rate calculated by the Central Bank that serves as a reference for the settlement of futures contracts.

Investors digest the CMN (National Monetary Council) meeting the day before, which changed the inflation targeting system, and await inflation data from the United States, although the currency is heading towards strong monthly and quarterly losses.

At 9:08 am (Brasília time), the spot dollar advanced 0.51%, to R$ 4.8717 in the sale. At B3, at 9:08 am (Brasília time), the first contract dollar futures contract rose 0.03%, to R$ 4.8625.

The release of inflation data for the euro zone is on the radar of investors, who operate cautiously after signals from leaders of global central banks about the possibility of new interest rate hikes to combat rising prices.

In Brazil, the market reflects unemployment data released by the IBGE (Brazilian Institute of Geography and Statistics).

On Thursday (29), the Brazilian Stock Exchange broke a sequence of falls and rose again (29) after the publication of the Quarterly Inflation Report, by the Central Bank (BC), and with a focus on the CMN meeting, in addition to positive data from inflation released in the morning.

The dollar opened higher and reached R$ 4.87 at the high of the day, but closed practically stable, still supported by a global movement of risk aversion and impacted by the formation of the Ptax rate, which will take place this Friday.

At the end of each month, financial agents usually try to direct the Ptax to more convenient levels for their positions, whether they are bought or sold in dollars.

The currency has also been gaining strength in recent days with increased risk aversion abroad, after heads of global central banks have signaled that new interest rate hikes to fight inflation may be on the way. The DXY index, which measures the performance of the dollar against other strong currencies, rose by 0.43%.

With that, the Ibovespa rose 1.45%, to 118,382, while the dollar fell by 0.04%, practically stable at R$ 4.848.

In futures markets, interest rates fell sharply. Contracts maturing in January 2024 increased from 12.96% to 12.91%, while those for 2025 fell from 10.97% to 10.87%. For 2026, the expectation of interest was from 10.34% to 10.25%.

With Reuters