Good morning, foreign exchange market! Cash ended yesterday at R$5.0588 for sale, as reported by the Getmoney desk. Yesterday, low liquidity due to the holiday in several European countries also helped the market to close above R$5.05. Stronger than expected data from North American industry made bets on interest rate cuts there take a cold shower.
Now the market no longer knows whether the start will be in June or later. The rise in US Treasury bond yields also helped the dollar rise. And the government reported on Friday that the Fed’s preferred inflation gauge, PCE, registered a 2.5% annual increase in February, while the core PCE price index was at 2.8% in the same period. All of this together priced a higher dollar.
Do you think the dollar remains above R$5.05 today? I don’t lol. I think that with the return of the holidays and greater liquidity, the dollar will return some of yesterday’s gains! Give your opinion in the comments, guys!
And yesterday China did not price the dollar. Industrial activity there expanded at the fastest pace in 13 months in March, exceeding expectations, with business confidence hitting an 11-month high, the PMI showed. Now the market will await the release of US labor market data on Friday, in addition to Powell’s speech. And wars continue to escalate around the world.
In today’s economic calendar, we will monitor the industrial PMI for March in Europe. Here in Brazil, the February IPP. In the US, we will have many speeches from Fomc members to follow, Bowman, Mary Daly, Mester and Williams. In addition, Jolts job offers and industry orders for February will be published.
Good business to everyone and lots of profit!
