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Monday, January 30, 2023

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Ibovespa today has Brazil in football and China in the markets

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News about China’s President Xi Jinping and future Lula government move global markets today

O Ibovespa starts the week again hampered by the game of the Brazilian team in world Cup🇧🇷 This time, departure will be in the early afternoon (1pm), which tends to sharpen the back-and-forth of trading throughout the day, draining the liquidity of trades. Still, the bias towards handbag is negative, in the midst of protests in China against Covid Zero policy.

A harsher reality in the Asian country in the face of restrictive measures to stop the spread of covid-19 is undermining the feeling From global markets this Monday (28). Protests were seen in some neighborhoods of Beijing🇧🇷 Shanghai🇧🇷 chengdu and wuhanamong other Chinese cities, as well as some important universities in the capital.

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There are those who say that a “crowd” is exhausted and frustrated with the strategy to combat the coronavirus, about two weeks after the central government announced measures to ease testing and quarantine. This mass of people would be calling for the resignation of the Chinese president, Xi Jinping🇧🇷

Others report that the demonstrations reek of the “color revolution” supported by external forces, such as those of 1989 and 2019. There is still a third way, which reports that the protests are specific and directed at regional administrations – something very common in China. This is the case in Xinjiang, where the local government violated the rules and imposed a lockdown severe hundred days.

Today is Brazil and China day

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The fact is that social discontent in China is not the majority, as 80% of the Chinese population supports the Covid Zero🇧🇷 Of these, 45% represent the elderly, who are concerned about a possible loosening of the combat policy, since a good part has not yet been vaccinated against the disease.

It is worth remembering that China favored the vaccination of the workforce. Incidentally, most of the people who protested over the weekend are in their 20s. In addition, the country is experiencing the worst wave of contagion since the beginning of the pandemic, in 2020, recording successive records of daily cases, around tens of thousands – something very unusual for the Chinese standard.

In any case, an old acquaintance returns to shake the markets abroad today, with emphasis on the fall of more than 3% of the Petroleum🇧🇷 Around here, the Transition PEC also keeps tension high in the risk assets🇧🇷

President-elect Luiz Inacio Lula da Silva arrives in Brasília to take the reins of the process and hammer out the proposal that embraces campaign promises as of 2023. A definition is also expected on the names of members of the next government, after Fernando’s speeches haddad start to scare investors again at the end of last week.

Below, see how financial markets performed around 7:50 am:

USA: Dow Jones futures fell 0.58%; the S&P 500 retreated 0.83%; while the Nasdaq was down 0.96%;

NY: the Ibovespa in dollar (EWZ) retreated 3.18%, to 28.64 points in the pre-market; in ADRs, Vale had a drop of 1.46%, while Petrobras fell 1.94%;

Europe: the pan-European Stoxx 600 index was down 0.78%; the Frankfurt stock exchange lost 0.81%; Paris was down 0.78% and London was down 0.40%;

Exchange: the DXY index was down 0.48%, at 105.45 points; the euro was up 0.72% to $1.0475; the pound traded -0.06% at $1.2087; the dollar was down 1.05% against the yen, at 137.72 yen;

Treasuries: yield on the ten-year T-note was at 3.673%, up from 3.688% in the previous session; the 2-year T-bill yield was at 4.451% from 4.480% in the same comparison;

Commodities: gold futures were up 0.52% to settle at $1,763.20 an ounce on the Comex; WTI crude futures were down 3.13% to settle at $73.90 a barrel; Brent crude fell 3.17% to US$81.08 a barrel; the most liquid iron ore futures contract traded in Dalian (China) closed up 2.10%, at 753.50 yuan a metric ton.

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Source: Moneytimes

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