Ibovespa is falling in the first trading session of 2024; dollar rises

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In the last trading session of 2023, the stock exchange’s main stock index fell 0.01%, to 134,185 points. The American currency rose 0.41%, quoted at R$4.8525. Panel shows market variation at B3, in São Paulo. Amanda Perobelli/Reuters In the first trading session of 2024, Ibovespa, the main stock index on the Brazilian stock exchange, B3, is falling. The dollar rises this Tuesday (2). The day is still a slow news day, but the markets start negative due to the advance of American Treasuries. There is expectation for the minutes of the Federal Reserve (Fed, US central bank) meeting to be released this week. See below for a summary of the markets. Dollar At 12pm, the dollar was up 0.64%, quoted at R$4.8834. See more quotes. In the last trading session of 2023, the North American currency closed up 0.41%, quoted at R$4.8525. However, the year ended with a decline of 8.06%. The historic high of the American currency was on May 13, 2020, when it cost R$5.9007. Since then, it has already accumulated a drop of almost 18%. drop of 0.17% in the week; decline of 1.28% in the month; loss of 8.06% in the year. Ibovespa At the same time, Ibovespa was down 0.44%, at 133,593 points. In the last trading session of 2023, the index closed down 0.01%, at 134,185 points. During the year, the stock exchange closed with a gain of more than 22.28%. In annual terms, this is the best result since 2019, when the index had an accumulated increase of 31.58%. increase of 1.08% in the week; gain of 5.38% in the month; increase of 22.28% in the year. READ ALSO CASH OR CARD? What is the best way to take dollars when traveling? DOLLAR: When is the best time to buy the currency? Understand what makes the dollar rise or fall What moved the markets? This Tuesday, the Central Bank released the first Focus bulletin of this year. Financial market economists predict that Brazil will close the year 2024 with inflation of 3.9%, economic growth of 1.52% and with the dollar priced at R$5. The projections indicate stability in relation to the previous edition of Focus, released last week. The only variation was in the inflation forecast, which fell from 3.91% to 3.90%. As for the economy’s basic interest rate this year, the forecast fell from 9.25% to 9% per year. For the year 2023, the official inflation projection is 4.46% according to the Broad National Consumer Price Index (IPCA). Regarding the result of the Gross Domestic Product (GDP) for 2023, the financial market maintained its growth projection at 2.92%. On the 31st, after the last trading session, President Luiz Inácio Lula da Silva (PT) sanctioned, with vetoes, the law that regulates the online sports betting market in Brazil, the so-called bets. The sanctioned law taxes companies and bettors, as well as establishing rules for the operation of betting and defining the distribution of resources collected by the government from the activity. According to initial calculations by the Executive, the taxation of virtual games and betting should allocate at least R$10 billion to the public coffers. Abroad, the day is one of global strengthening of the dollar and an increase in the yields of American Treasuries, with expectations for the minutes of the Federal Reserve meeting (Fed, central bank of the USA) that will be released this week. In addition to putting pressure on the value of the American currency, the phenomenon increases the country’s future interest rate. In addition to the Fed minutes, the main indicator of the week is the US employment report (“payroll”), which will provide further indications of the country’s economic situation and what direction the Fed should take in managing US interest rates.

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