Dollar opens slightly higher after IPCA registers deflation of 0.08% in June and with abroad on the radar

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On the eve, the US currency rose 0.31%, sold at R$ 4.8819. Dollar banknotes bearfotos/Freepik The dollar opened higher this Tuesday (11), after the release of June inflation data. According to the Brazilian Institute of Geography and Statistics (IBGE), the Extended Consumer Price Index (IPCA) registered a deflation of 0.08% in the last month. In addition to the domestic data, the market is also waiting for the inflation numbers in the United States, which should be released tomorrow. At 9:04 am, the US currency rose 0.13%, quoted at R$ 4.8881. See more quotes. Last Friday (7), the dollar closed at a high of 0.31%, quoted at R$ 4.8819. With today’s result, the currency started to accumulate: High of 1.94% in the month; Drop of 7.50% in the year. COMMERCIAL X TOURISM: what is the difference between the quotation of foreign currencies and why is tourism more expensive? MONEY OR CARD? What’s the best way to take dollars on trips? DOLLAR: When is the best time to buy the currency? What is messing with the markets? The IBGE released the inflation measured by the IPCA for June, which was in line with financial market estimates: deflation of 0.08%, while projections pointed to a fall of 0.10%. Accumulated in 12 months, inflation registers an increase of 3.16% and in 2023, until June, the index varied 2.87%. In the same period of last year, the monthly variation had been 0.67%, while the accumulated in 12 months was 11.89%. Abroad, the day has an empty agenda. However, investor expectations revolve around the release of the Consumer Price Index (CPI) for the United States this Wednesday (12). The country is currently experiencing a cycle of monetary tightening, with the Federal Reserve (Fed, the US central bank) raising interest rates to control the rise in prices. Thus, US inflation data are always viewed with great caution, in an attempt to anticipate what the institution’s next steps will be. It is worth remembering that higher interest rates in the world’s largest economy raise yields on the country’s government bonds, which are considered the safest. This can harm the performance of risk assets, such as stock markets and currencies other than the dollar, especially in emerging countries. In addition to inflation in the United States, the market is also awaiting the release of the Fed’s Beige Book, which provides details on the country’s macroeconomic scenario.

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