Driven by global relief, the financial market had a day of strong recovery. The dollar closed below R$5.10 for the first time in three weeks. The stock market rose more than 1% and reached its highest level in 24 days.
The commercial dollar closed this Friday (3) sold at R$ 5.07, with a decrease of R$ 0.044 (-0.85%). The price opened stable, but plummeted after the release of data from the North American labor market. At the low of the day, around 9:40 am, it reached R$5.04.
The North American currency is at its lowest value since April 9th, when it was at R$5. The last time the price closed below R$5.10 was on April 11th. With today’s performance, the dollar accumulated a drop of 2.37% in just the first two business days of May. In 2024, the currency will rise by 4.47%.
In the stock market, the day was also one of relief. B3’s Ibovespa index rose 1.09% and closed at 128,509 points. The indicator is at its highest level since April 9th. Shares of retailers, airlines and education companies drove the rise.
Across the planet, the dollar fell sharply following the announcement that job creation in the United States was below expectations. Last month, the largest economy on the planet added 175,000 jobs, lower than expected.
The news reignited expectations that the Federal Reserve (Fed, North American Central Bank) will begin lowering interest rates before November. Lower rates in advanced economies encourage the migration of resources to emerging countries, such as Brazil.
* with information from Reuters
