See the dollar quote and the Stock Exchange today – 04/05/2023 – Market

The dollar opens in decline this Wednesday (5), with an eye on new data on the job market in the United States. This time, the evolution of job vacancies in the American private sector will be disclosed, in a report known as ADP.

The indicator is considered the closest preview of the Payroll, which shows a broader picture of employment in the US, which comes out next Friday (7). This is one of the most important data that the Fed (Federal Reserve, the US central bank) takes into account when making its decision on interest rates.

At 9:21 am (Brasília time), the spot dollar retreated 0.57%, to R$ 5.0540 in the sale.

At B3, at 9:21 am (Brasília time), the first contract dollar futures contract fell 0.37%, to R$ 5.0740.

The Stock Exchange closed higher this Tuesday (4th), with investors reacting well to the tone adopted by the Minister of Finance, Fernando Haddad, when dealing with the new fiscal rules. Banks, which have an important weight on the Ibovespa, rose and offset the declines of Petrobras and Vale.

The Ibovespa closed up 0.36% to 101,869 points. At the maximum of the day, the index surpassed 103 thousand points. The spot commercial dollar rose 0.25% to R$5.083. This after falling from R$5.28 to R$5.07 in seven trading sessions until this Monday (3).

In the interest rate futures market, rates rose on shorter maturities and fell on longer ones. In contracts maturing in January 2024, the rates increased from 13.20% at closing this Monday to 13.24%. For January 2025, interest rates increased from 11.97% to 12%. Upon maturity in January 2027, the rate dropped from 12.05% to 12%.

About the new fiscal framework, Haddad gave, on Monday night (3), some indications about how he intends to increase tax collection, the government’s main bet to meet the established goals.

In an interview with the GloboNews channel, Haddad said that the collection will need to increase between R$ 110 billion and R$ 150 billion to make the goals viable. According to him, it is possible to reach these numbers without increasing taxation, charging those who do not pay taxes.

Another piece of news cited by analysts is the government’s intention to leave the taxation of exclusive funds, aimed at high-income investors, for the second half. The collection of taxes for this type of investment should be included in the Income Tax reform, which includes the taxation of dividends.

Bank stocks reflected this heightened optimism, and helped the index close in the black. Itaú Unibanco, Banco do Brasil and Bradesco had hikes that varied between 1.5% and 2%.

On the other hand, Vale’s shares fell almost 3%, following the trend of iron ore, which retreated more than 5% in the last two days. The movement is caused by the difficult moment experienced by Chinese construction companies, which have even delayed the disclosure of results due to financial problems.

Petrobras’ shares, after the highs of this Monday following oil, underwent a profit-taking movement, with falls close to 1%.

In the United States, job openings in the US job market fell to the lowest level since May 2021, falling below 10 million jobs. This increases the prospect that the cycle of rising interest rates in the country is nearing its end.

However, stock indices in New York closed lower, impacted by the shares of large banks. This comes after JPMorgan chairman Jamie Dimon declared that the US banking crisis will be felt for years, according to Bloomberg.

Shares in Morgan Stanley and Wells Fargo fell more than 2%. JPMorgan, Goldman Sachs and Citigroup fell more than 1%.

The Dow Jones index ended the day down 0.59%. The S&P 500 closed down 0.58%, and the Nasdaq fell 0.52%.