See stock exchange and dollar quotes this Monday – 03/27/2023 – Market

The dollar opened in decline this Monday (27), starting the last week of the first quarter of 2023 with investors attentive to important economic data that will come out in the coming days.

In addition to the projections of economists in the BC (Central Bank) Focus Bulletin, released this Monday, the week will be marked by the GDP (Gross Domestic Product) of the United States in the fourth quarter of 2022.

In Brazil, investors will pay attention to the February credit data, also released by the BC, and employment indicators by Caged.

At 9:04 am (Brasília time), the spot dollar retreated 0.17%, to R$ 5.2413 in the sale.

On the B3, at 9:04 am (Brasília time), the first contract dollar futures contract fell 0.17%, to R$ 5.2465.

On Friday (24), the Stock Exchange closed high and the dollar fell. Investors made position adjustments after the Ibovespa reached its worst mark since July this Thursday, a movement facilitated by the IPCA-15 of March, which shows a trend of deceleration in inflation.

In the week, the accumulated drop exceeded 3%, with the announcement tougher than expected after the Central Bank’s decision to keep interest rates at 13.75%, and fears over the international banking crisis.

The Ibovespa closed the day up 0.92% to 98,829 points. The spot commercial dollar ended in a drop of 0.73%, at R$ 5.249. In the week, the Ibovespa accumulated a fall of 3.10%, and the commercial dollar fell 0.30%.

The interest rate market also reacted to the IPCA-15 of March, with investors adjusting after the reaction to the Central Bank’s statement following the decision to maintain basic interest rates at 13.75%. Part of the economists interpreted that instead of cutting, the Central Bank could raise interest rates more. With inflation decelerating, this perception diminished this Friday.

In contracts maturing in January 2024, the rate dropped from 13.18% at the close of this Thursday to 13.07%. For January 2025, interest rates dropped from 12.13% to 11.95%. Upon maturity in January 2027, the rate increased from 12.37% to 12.24%.

The IPCA-15 (National Consumer Price Index-15), considered the preview of official inflation, rose 0.69% in March, over a rise of 0.76% in the previous month, informed the IBGE (Brazilian Institute of Geography and Statistics).

The increase in registered a slowdown and the index approaches 5% in 12 months, but the pressure exerted by gasoline still compensates for the weaker increase in food prices.

Abroad, the financial system crisis took different paths in the United States and Europe. In New York, stocks closed higher after statements from regulators and US Treasury Secretary Janet Yellen.

They admit that some banks are struggling right now, but that the financial system as a whole is sound. The statements were given after an extraordinary meeting called by Yellen this Friday.

The shares of large American banks closed lower, but less intensely than the one registered at the beginning of the day. Thus, the Dow Jones and S&P 500 indices ended the day up 0.51% and 0.46%, respectively. The Nasdaq rose 0.31%.

In Europe, the scenario was different. Deutsche Bank shares fell more than 8% on Friday on the Frankfurt Stock Exchange. It was the fourth straight fall of the role, which has already lost more than 27% of its value in March. The cost of its CDS (a form of insurance for bondholders) has reached a four-year high.

Deutsche Bank declined to comment when contacted by Reuters.

In Switzerland, authorities and UBS are racing to complete the Credit Suisse acquisition in less than a month, according to two sources with knowledge of the plans.

Different sources say that UBS has promised retention packages for Credit Suisse wealth management executives in Asia, with the aim of preventing a mass exit of professionals.

Jefferies has lowered its recommendation on UBS shares from “buy” to “hold”, saying the acquisition of Credit Suisse changes the investment thesis, which was based on a lower risk profile, organic growth and high capital returns. .

Leaders of the European Union and the ECB (European Central Bank) tried to calm the market by delivering a unique speech regarding the banking sector this Friday. Officials said financial institutions are well capitalized and liquid, thanks to lessons learned after the financial system crisis in 2008.

The statements were given after the closure of markets in Europe. The Euro Stoxx 50 Index was down 1.82%, the Paris CAC 40 was down 1.74%, and the Frankfurt DAX was down 1.66%. London’s FTSE 100 fell 1.26%.