Ibovespa declines with decline in commodities and forecasts for Selic; dollar has slightly risen

The São Paulo stock exchange was operating lower this Tuesday (23), marked by the drop in commodities such as iron ore and oil abroad, while the Central Bank’s Focus survey showed an increase in estimates for the Selic this year and in 2025.

At 10:06 am, the Ibovespa fell 0.56%, to 124,865.45 points. The Ibovespa futures contract with a shorter maturity, on June 12, showed a drop of 0.92%.

Dollar rises slightly

The dollar rose slightly against the real this Tuesday, with investors waiting for North American economic data and focusing on the prospects for the pace of monetary easing in both the United States and Brazil.

The US currency in cash rose 0.32%, to R$5.1862 on sale. On B3, the first-month dollar futures contract rose 0.13%, to R$5.182 on sale.

The day before, the spot dollar closed the day at R$5.1697 on sale, down 0.56%, far from intraday levels close to R$5.29 that it reached last week.

“Some short-term models that bet on the appreciation of the real see room for (the dollar) to return to the level of R$5, and moments of lower volatility, like this week, could contribute to a possible correction of distortions, several sold positions in the currency may be being undone”, said Matheus Massote, foreign exchange specialist at One Investimentos.

Global sentiment was in fact much milder at the beginning of this week, after very turbulent days, with investors showing relief at the ease of tensions in the Middle East after Iran did not respond to Israel’s retaliation in response to Iranian attacks carried out. just over a week ago.

That left room for a recovery in risk appetite, but market optimism was limited by caution ahead of the release of data on the Federal Reserve’s preferred PCE inflation index on Friday. After this month’s consumer price numbers, markets postponed bets on a first interest rate cut by the Fed until September, boosting the dollar globally.

On Thursday, data on the Gross Domestic Product will also be released (GDP) of the USA for the first quarter.

(By Paula Arend Laier)

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