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    Dollar (USDBLR) rises on fiscal risk and recession fears

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    In the second quarter, the accumulated gain of the US currency against the Brazilian currency was 9.83% (Image: Pixabay/Foto-Rabe)

    O dollar (USDBLR) rose at the opening of trading this Friday (1), in view of expectations about a possible recession in important economies and with fiscal risk on the radar. By 9:05 am, the coin had gained 0.60% at R$5.2876.

    the index DXYwhich measures the variations of the dollar against six other relevant currencies, operates higher, reversing part of yesterday’s losses.

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    Oil futures contracts reversed earlier losses and started to operate higher, after two consecutive sessions of devaluation. The main European stock exchanges and futures indices of New York they fell in the morning.

    markets today

    In Brazil, the approval of the PEClast night, in which the Senate included expenditures above the spending ceiling, should keep interest rates under pressure today in the face of the risk of fiscal deterioration and, consequently, limit a more intense recovery of the Ibovespafor example, said Ágora Investimentos.

    economic agenda

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    Today’s agenda, according to Agora:

    O PMI June (10:00 am) and the June trade balance (3:00 pm) are the local highlights, and for the latter, projections point to a surplus of US$ 9.9 billion – practically double that of May (US$ 4.94 billion). billion), if confirmed.

    USA: Highlight for the June manufacturing sector purchasing managers’ index (PMI) measured by S&P Global (10:45 am), ISM/Chicago (11:00 am) and S&P Global/JP Morgan (12:00 pm).

    Europe: Eurozone consumer inflation (CPI) hit an all-time high of 8.6% in June, beating a record 8.1% in May, while the region’s industrial PMI dropped to 52.1 in June, the lowest level in 22 months. In Germany, the PMI fell to 52, the lowest level in 23 months, while in the United Kingdom, the same data fell to 52.8, the lowest level in two years.

    Dollar on the rise

    The day before, the US currency traded on the interbank market closed the session up 0.77%, at R$ 5.2311, after showing strong volatility throughout the auction.

    In June, the dollar jumped 10.03%, its best month since March 2020 (+15.92%), when global markets felt the initial shock of the Covid-19 pandemic. In the second quarter, the accumulated gain of the US currency against the Brazilian currency was 9.83%.

    This does not compensate for the low of 14.55% seen in the period from January to March, but reduces the dollar’s losses in the accumulated of 2022 to 6.14%.

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    Source: Moneytimes

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