See stock exchange and dollar quotes this Thursday – 03/09/2023 – Market

The dollar extended its losses against the real this Thursday (9), a day with a more emptied agenda both in Brazil and in the United States. Investors are paying attention to employment data from the Ministry of Labor, with the January Caged, and expect more news about the new fiscal framework.

The market will also try to anticipate important indicators that will be released next Friday (10). Here, the IPCA (Extended Consumer Price Index) for February, which may influence the Central Bank in the decision on interest rates at the end of March.

The same relevance applies to the employment report in the United States, known as Payroll, which may be decisive for the decision of the Fed (Federal Reserve, the American central bank), also at the end of this month.

At 9:10 am (Brasília time), the spot dollar retreated 0.35%, to R$ 5.1210 in the sale.

On B3, at 9:10 am (Brasília time), the first contract dollar futures contract fell 0.45%, to R$ 5.1455.

The Stock Exchange closed higher on Wednesday (8), with the best daily performance in recent months, while the dollar fell. The local environment is the main focus of investors, who are optimistic about the new fiscal framework and its effects on Brazilian interest rates.

The Ibovespa ended the trading session up 2.22% to 106,540 points. It is the index’s best daily performance since November 11, 2022, when it rose 2.26%. That day, the advance was driven by Vale’s share, which rose more than 10%.

The spot commercial dollar closed down by 1.02%, at R$5.141. It is the lowest closing quote for the exchange rate since February 23.

The perspective on the positive effects of the new fiscal framework also appears in the interest rate market. Contracts maturing in January 2024 fell from 13.20% at the close of this Tuesday (7) to 13.08%. When due in January 2025, the rate dropped from 12.62% to 12.37%. For January 2027, interest rates increased from 12.99% to 12.76%.

The market is beginning to anticipate the possible effects of a new fiscal framework built by the government, with the participation of the Central Bank. According to analysts, on these bases, it is possible that the monetary authority will be able to anticipate the beginning of the interest rate cut cycle.

In the retail sector, Petz’s common stock was the highlight, up 9.19%. The common stock of the SOMA Group, owner of the clothing brand Hering, rose 8.06%. The common stock of Lojas Renner advanced 7.46%, and that of Magazine Luiza closed with an increase of 6.52%.

Also noteworthy is the education sector. YDUQS’s common stock had the highest increase in the Ibovespa, with 12.17%. Cogna’s common stock closed the day with an increase of 8.91%.

This Wednesday, the Ministry of Education published an ordinance creating the working group to promote technical studies related to the Student Financing Fund (Fies), which should undergo changes soon, which supported higher education actions at B3.

In New York, the indices fluctuated a lot during the day, and closed with a more positive trend. Jerome Powell, chairman of the Fed (Federal Reserve, the US central bank), spoke this Wednesday to deputies in Congress. His speech was more focused on the need to raise the US debt ceiling, which he says is “the only fiscal solution” for the country at the moment.

On the interest rate, the Fed president didn’t give many clues. “We haven’t made any decisions about the March meeting yet, we won’t until we see the additional data” that will come between now and the Federal Open Market Committee (FOMC) March 21-22 meeting.

US job openings fell less than expected in January, and data for the previous month was revised upwards.

Available jobs, a measure of demand for workers, fell by 410,000 to 10.8 million on the last day of January, the Labor Department said on Wednesday in its monthly survey of job openings and turnover, known as as a JOLTS report.

December’s data was revised to 11.2 million job openings from the previously reported 11.0 million.

The Dow Jones Industrial Average closed down 0.18%. The S&P 500 ended up 0.14%. The Nasdaq index closed with an advance of 0.40%.