Follow the dollar exchange rate today (28) – 09/28/2023 – Market

The dollar was falling at the beginning of trading this Thursday (28), in a correction movement after the jump recorded in recent days with fears about interest rates in the United States, which made the American currency exceed R$ 5.00 and reach its highest value since May.

This morning, investors are following the release of data on US GDP growth and awaiting comments from the president of the Fed (Federal Reserve, the American central bank), Jerome Powell, on the future of the country’s interest rate policy.

At 9:30 am, the dollar fell 0.45%, quoted at R$5.023.

On Wednesday (27), the dollar rose 1.15% and closed at R$5.046 amid concerns about a new US interest rate hike, after the Fed signaled that an increase in its rates in 2023 is likely.

Since last Tuesday, one day before the Fed’s interest rate announcement, the American currency has accumulated an increase of 3.55% against the real. The prospect of rising interest rates in the USA increases the yields on American Treasury bonds and, consequently, attracts resources to the country, increasing the value of the currency.

The rise of the dollar against the real was also in line with the appreciation of the American currency in relation to a basket of strong parties.

The Brazilian Stock Exchange had an unstable session, alternating between losses and gains, and even dropped during the afternoon under pressure from American interest rates. At the end of the trading session, however, the Ibovespa guaranteed a slight increase, supported mainly by Petrobras and Vale on a positive day for commodities abroad.

In this scenario, the Ibovespa rose 0.11% this Wednesday, to 114,327 points.

Despite interest pressure, Ibovespa managed to guarantee a positive trading session at the end of negotiations, with the rise in commodities supporting Petrobras and Vale, the two largest companies on the Brazilian stock exchange. While the oil company rose 3.16%, driven by the rise in oil prices abroad, the mining company rose 0.35% after positive news about China.

The main falls of the day were Renner, Itaú and Bradesco, which fell 0.61%, 0.45% and 0.28%, respectively, and were among the most traded of the session.

The biggest falls, however, were again in the retail sector, more sensitive to interest rate movements in Brazil.

The Casas Bahia Group once again led the session’s declines, with a drop of 5.00% after announcing that its commercial and operations vice-president submitted a resignation. GPA and Magazine Luiza, other big names in the sector, fell 2.99% and 2.86%, respectively.

With Reuters