O dollar 🇧🇷USDBLR) closed down against the real this Thursday, following the external good mood after signaling that the central bank of the United States may reduce its pace of monetary tightening, in a session of reduced volumes due to the North American holiday and the first game of the Brazilian soccer team in world Cup🇧🇷
The US currency in sight fell 1.13%, to 5.3103 reais in the sale, after operating in decline throughout the trading session. It was the lowest closing level since the last day 14 (5.3026 reais).
According to Evandro Caciano dos Santos, head of exchange at Trace Finance, the main factor behind the devaluation of the dollar in this session was the minutes of the last monetary policy meeting of the Federal Reservewhich, according to him, came “much lighter than imagined”.
The document, released on the eve, showed that a “substantial majority” of monetary policy makers agreed that “it would probably be appropriate shortly” to slow the pace of interest rate hikes. feesa measure that would favor assets considered risky.
Dos Santos added that the Thanksgiving Day holiday in the United States may have favored a redirection of funds from abroad to Brazil, whose markets offer high and attractive yields for international investors.
With Wall Street closed for the local holiday and with Brazil’s debut in the World Cup this afternoon, the session was low liquidity, experts said, which may have helped to exacerbate the fall of the US currency.
On the local scene, the decision of the TSE president, Alexandre de Moraes, to reject the action presented by the coalition of President Jair Bolsonaro (PL) that requested extraordinary verification of the result of the second round of elections, alleging malfunctions, contributed to the good mood of the market. of electronic voting machines.
Earlier this week, the attempt to question the polls had shaken the spirits of investors, who feared aggravation of domestic political tensions.
Despite the drop in the dollar this Thursday, successive postponements of the presentation of the final text of the Transition PEC that the elected government of Luiz Inácio Lula da Silva seeks to approve to allow extra-ceiling spending from next year continued to be a cause for concern.
“What you see at each attempt to advance, at each signal issued, is that the PT is extremely uncomfortable with the fiscal constraints and that, if possible, it does not want to respect them, even though the widely known macroeconomic consequences may occur”, Jason Vieira, chief economist at Infinity Asset, said in a report.
The elected government initially proposed in the PEC an extra-ceiling spending of almost 200 billion reais for an indefinite period, but a good part of the markets hope that the text can be reduced in negotiations with Congress.
Senator Marcelo Castro (MDB-PI), general rapporteur for next year’s Budget, told Reuters that the text of the Transition PEC will be filed by next Tuesday.
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