Dollar opens higher on Monday, with China’s growth plan on the radar

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On Friday, the US currency dropped 0.06%, quoted at R$5.2004. Dollar banknotes John Guccione/Pexels The dollar operates on a high this Monday (6), with China’s growth plans, which intends to grow 5% this year, on investors’ radar. At 9 am, the US currency rose 0.14%, quoted at R$ 5.2070. See more quotes. The previous day, the dollar closed down 0.06%, quoted at R$5.2004. With the result, the coin accumulates a high of 0.02% in the week. In the month and in the year, however, it still accumulates drops of 0.48% and 1.48%, respectively. READ ALSO: UNDERSTAND: What makes the dollar rise or fall in relation to the real COMMERCIAL X TOURISM: what is the difference between the quotation of foreign currencies and why is tourism more expensive? DOLLAR: When is the best time to buy the currency? MONEY OR CARD? What’s the best way to take dollars on trips? What is messing with the markets? The Government of China announced this Sunday (5) a plan to resume the economy with a growth target of 5%, after a slowdown during the pandemic years. Growth last year was 3%, one of the weakest paces since the 1970s. Premier Li Keqiang, the top economic official, set the target after ending “Covid zero” policies that kept millions of people at home and sparked protests. “We must give priority to the recovery and expansion of consumption,” Li said in a speech on the government’s plans before the ceremonial National People’s Congress in the Great Hall of the People in central Beijing. China’s stock markets fell on Monday as the announcement ended up undermining expectations of major economic stimulus. In Brazil, the focus of economic agents is on the details of the country’s new fiscal framework, which will replace the spending cap. The Ministry of Finance is showing signs that it intends to submit the proposal before the next meeting of the Monetary Policy Committee (Copom), seeking to show the body its willingness to resolve the country’s accounts. On March 21st and 22nd, the Copom will decide on the new level of the basic interest rate, the Selic. The economic team expects more positive signals from the Central Bank, so that it can expect a decrease in the country’s interest rates and help in growth. The government should use the Gross Domestic Product (GDP) per capita as a reference for expenditure in the new fiscal rule, as published by the newspaper “O Globo” over the weekend. According to the newspaper, the team of the Minister of Finance, Fernando Haddad, wants the new framework to indicate that the debt/GDP ratio should remain stable, and not necessarily that it will fall in the short or medium term. Among the indicators, this Monday’s Focus bulletin shows that financial market economists raised the 2023 Gross Domestic Product (GDP) growth estimate from 0.84% ​​to 0.85%. It was the third high in a row in the estimate. The financial market’s inflation estimate for this year remained unchanged at 5.90% last week. READ MORE Services sustain a rise in GDP, with tourism leading to the recovery of activities ruined by the pandemic High interest rates have already reduced GDP in the 4th quarter and complicate 2023, say economists MÍRIAM LEITÃO: ‘The Bolsonaro government handed over to the Lula government, already slowing down’ Initial plugin text

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