O Ibovespa opened with a drop of 0.14%, at 127,364 points, this Wednesday (3). The decline in the main B3 index occurs with attention focused on Brazilian industrial production and speeches by the presidents of the Central Bank (B.C.) and the Federal Reserve (Fedthe American central bank)Roberto Campos Neto and Jerome Powell, respectively.
This morning, the Brazilian Institute of Geography and Statistics (IBGE) reported that Brazilian industrial production registered a drop of 0.30% from January to February 2024. However, in a 12-month comparison, February this year showed an increase of 5% compared to February 2023, the biggest increase since June 2021 (12.1%). So far this year, Brazilian industry has registered an increase of 4.30%.
Investors should monitor Campos Neto’s speech, amid expectations of possible anticipation in the transition process at the Central Bank.
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In the United States, the results of the ADP report on private sector employment in March and data from the Purchasing Managers Indexes (PMIs) of services. The Fed president will speak at 1:10 p.m.
Last Friday (29), Powell stated that the definition of the moment for interest cuts will depend exclusively on data and the performance of the economy, warning that the Fed may even extend the period of maintenance of the restrictive policy if there is no progress in reducing inflation.
The negative tone in New York and the 2.54% drop in iron ore in China should maintain pressure on the Ibovespa and shares of OK (VALE3), while a slight rise in oil prices could benefit shares of Petrobras (PETR3; PETR4).
*With information from Broadcast
