Stock exchange today: See the performance of Ibovespa and the dollar this Tuesday (2) and the reasons for the movement of assets
The stock exchange today operated between the positive and negative fields at the beginning of the session, as did the dollar, with the exterior in focus. The behavior of interest rates on American treasuries pushes risky assets downwards in the developing world and emerging markets.
So, around 10:30 am, the Ibovespa rose 0.15%, to 127,163.28 points, reversing, for now, part of the previous day’s fall, when the main stock market index fell 087%. See here the reasons for the devaluation of the Ibovespa in the previous session. Earlier, the index fell by 0.15%.
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Dolar today
At the same time, the dollar operated stable, with a slight drop against the real, after robust gains in the previous session. Thus, at the time mentioned, the US currency fell 0.03%, to R$5.0528.
Likewise, on the global stage, the dollar had a slight drop. The DXY, which measures the performance of the US currency in relation to other major currencies, depreciated 0.08%, to 104.93 points.
Reasons for the stock market crash today
The main cause of the stock market’s fall today is the rise in the 10-year treasury, according to Paulo Gala, chief economist at Master bank. Interest on the main US public debt bond rose to 4.30% in the previous session, well above the low of 3.80% recorded at the beginning of the year.
“With this, the market will start to push the interest rate cut for July”, assesses Gala.
Furthermore, oil is reaching its highest levels of the year and is also beginning to worry the market about the possible return of inflationary pressure.
The Jolts report is coming out today, another point of attention, which will show the situation of the US job market.
Dollar in focus
In this sense, the dollar also appreciated, with R$3.8 billion in NTNs indexed to the exchange rate maturing in mid-April. “It is an important event because it puts pressure on demand, especially from those who want to replace this hedge”, explains the Master economist.
Even so, Gala relates the rise of the dollar to oil at US$85 and 10-year treasuries at year highs.
Another highlight of the day in relation to the dollar is the announcement made by the Central Bank of the extraordinary auction of US$ 1 billion. The swap for the future sale of dollars “aims to alleviate this hiccup” of the US currency a little, says Gala.
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