Dollar rises with tax reform; see quotation today – 07/05/2023 – Market

The dollar had a slight rise against the real shortly after opening this Wednesday (5), as investors awaited the publication of the minutes of the last monetary policy meeting of the Fed (Federal Reserve, BC of the USA), still keeping an eye on the processing of a series of economic agendas, including tax reform, in the Brazilian Chamber of Deputies.

At 9:06 am (Brasília time), the spot dollar advanced 0.50%, to R$ 4.8638 in the sale.

On the B3, at 9:06 am (Brasília time), the first contract dollar futures contract rose 0.42%, to R$ 4.8865.

On Tuesday (4), the Brazilian Stock Exchange fell by 0.49% and closed at 119,076 points, undergoing adjustments after registering an increase at the beginning of the week.

The dollar, on the other hand, fell and reached R$ 4.78 at the low of the day, but started to register an increase against the real and ended the day quoted at R$ 4.839, with an appreciation of 0.68%.

The performance of the American currency was mainly impacted by the low global financial volume due to the Independence Day of the United States.

The negative performance of the Ibovespa was driven by a slight fall in Vale (0.19%), affected by the decline in iron ore abroad, and in Hapvida (2.71%), which underwent correction after registering an increase in recent sessions. The two were among the most traded on the trading floor.

At the other end, Petrobras shares had slight gains of 0.13% and supported the index, as well as PetroRio (2.13%) and Braskem (4.87%), on a day of sharp rise in oil prices abroad .

The biggest rise of the day was the GPA, which rose 10.37% after updating the expectation for the completion of the sale of its stake in the Éxito group for the middle of the third quarter of this year.

MRV also had a strong increase of 6.69% after disclosing data showing that its development division had the best quarter of net sales in history. In addition, the company announced that it is evaluating the possibility of a new share offering.

In the futures markets, yield curves rose slightly, also undergoing correction after having reached their lowest levels of the year. Contracts maturing in January 2024 rose from 12.77% to 12.80%, while those for 2025 rose from 10.65% to 10.75%.

With Reuters