See stock exchange and dollar quotes this Friday – 03/17/2023 – Market

See stock exchange and dollar quotes this Friday – 03/17/2023 – Market


The dollar had little change against the real this Friday (17), with investors looking forward to the release of Brazil’s new fiscal framework while monitoring global fears about the banking sector.

At 9:11 am (Brasília time), the spot dollar retreated 0.03%, to R$ 5.2373 in the sale.

On B3, at 9:11 am (Brasília time), the dollar futures contract with the first expiry fell 0.02%, at R$ 5.2510.

The Central Bank will hold an auction of up to 16,000 traditional exchange rate swap contracts in this trading session for the purpose of rolling over the maturity of May 2, 2023.

This morning, unemployment data from the Pnad Contínua for the quarter ending in January came out, when the unemployment rate stood at 8.4%. The result is the lowest for this period since 2015, reported this Friday the IBGE (Brazilian Institute of Geography and Statistics).

Another “debut” of the new government will be on the January IBC-Br, an indicator of economic activity measured by the BC (Central Bank).

Abroad, in addition to banks, investors are also paying attention to the consumer inflation indicator in the Euro Zone, one day after the 0.50 percentage point increase in interest rates promoted by the ECB (European Central Bank).

The Stock Exchange closed high and the dollar fell this Thursday (16), following the trend seen in the American and European markets. The aid to Credit Suisse, announced on Wednesday night (15), and in the afternoon, the confirmation of the aid of large American banks to the First Republic Bank served to inject optimism into the market. The expectation that the BC (Central Bank) will start cutting interest rates in the coming months also helped.

The Ibovespa closed the day up 0.73% to 103,433 points. The spot commercial dollar ended with a drop of 1.05%, at R$5.238, after hitting R$5.31 at the beginning of trading.

In the interest market, rates had moderate increases, with investors reacting to the decision of the ECB (European Central Bank) to increase interest rates in the Euro Area by 0.50 points. It was expected that the monetary authorities of the United States and Europe would be able to ease the trend of tightening monetary policy with the banking crisis, but this was not confirmed.

In contracts maturing in January 2024, the rate increased from 12.96% per annum at the close of this Wednesday to 13.03%. For January 2025, interest rates rose from 12.07% to 12.16%. In January 2027, the rate increased from 12.52% to 12.58%.

Credit Suisse shares, traded on the Zurich Stock Exchange, rose more than 40% earlier in the day, but closed up 19.15%.

The bank announced on Wednesday that it will borrow about US$ 54 billion (50 billion Swiss francs, or R$ 284 billion) from the Swiss National Bank (SNB, the central bank of Switzerland), in a measure that it called an “action decisive” to strengthen its liquidity.

This Thursday afternoon, the Bloomberg agency reported that both Credit Suisse and its biggest competitor in Switzerland, UBS, are against a combined merger between the two banks. According to the information, UBS is reluctant to assume the risks of the rival’s operation.

In the United States, help for a struggling medium-sized bank comes from the industry itself. According to information from The Wall Street Journal, a group of 11 major institutions in the country deposited a total of US$ 30 billion in First Republic Bank. The operation was confirmed by the economic authorities of the country, including the Fed (Federal Reserve, the American central bank).

This move to save banks abroad helped the main global stock indices on Thursday. In New York, the Dow closed at a high of 1.17. The S&P 500 advanced 1.76%, and the Nasdaq rose 2.48%.

In Europe, the Euro Stoxx 600 index closed the day up 1.19%. The FTSE 100, in London, had an advance of 0.89%. In Paris, the CAC 40 index rose 2.03%, and in Frankfurt, Germany, the DAX closed the day with gains of 1.57%.

In Brazil, expectations continue for the release of the new fiscal framework. The president of the Chamber of Deputies, Arthur Lira (PP-AL), praised the Minister of Finance, Fernando Haddad, with whom he had a dinner this Wednesday about the fiscal framework and the tax reform. “The minister has the sympathy of the leaders of the Chamber, with the willingness to listen to him and give him prestige”, he said.

The minister’s objective is for the proposal for the new fiscal rules to become public before the next BC (Central Bank) meeting on interest rates, which ends next Wednesday (22).

President Luiz Inácio Lula da Silva (PT) has already signaled that he will disclose the new fiscal framework before his trip to China, scheduled for the 24th.

Even so, the moderate hikes in future rates this Thursday reinforce the expectation that the Selic will start to drop in the coming months.



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