Dollar opens in decline and Ibovespa advances; follow – 05/05/2023 – Market

The dollar showed a slight drop against the real at the opening of this Friday (5), before the release of employment data in the United States that may give new indications on the trajectory of the interest rate, amid speculation of cuts this year .

At 9:03 am, the spot dollar retreated 0.16%, to R$ 4.9844 in the sale. On B3, the dollar futures contract for the first month fell 0.08% to R$5.0095.

The spot dollar closed Thursday at R$4.9923 on sale, down 0.01%.

The Ibovespa opened this Friday with a positive bias, favored by the advance in stock markets abroad and the rise in oil prices, while the agenda highlighted data from the US labor market.

Investors are also reflecting on a new batch of corporate balance sheets, including that of Bradesco, which posted a higher-than-expected profit, while expecting a second quarter pressured by the line of provisions for credit losses, but awaiting improvement in the second half.

At 10:03 am, the Ibovespa rose 0.05% to 102,226.99 points.

At the same time, the Ibovespa futures contract with the shortest maturity, on June 14, rose 0.3%, to 104,215 points.

US job creation beats expectations in April

US employers increased hiring in April while raising workers’ wages, pointing to sustained labor market strength that may prompt the Federal Reserve to keep interest rates higher for some time.

The US economy added 253,000 non-agricultural jobs last month, the Labor Department’s jobs report showed on Friday.

March data was revised downwards to show 165,000 job creations instead of 236,000 as previously reported.

Economists polled by Reuters that 180,000 jobs would be created. Job openings are well above the monthly rate of 70,000 to 100,000 needed to keep up with growth in the working-age population.

The unemployment rate fell to 3.4% from 3.5% in March.

Average hourly wages rose 0.5% after advancing 0.3% in March. Wages rose 4.4% year-on-year in April after rising 4.3% in March.