Dollar rises to R$5.10; Future Ibovespa navigates optimism with fiscal framework

Ibovespa futures rises and dollar retreats this Friday (31) (Image: Facebook/B3)

O ibovespa future opened trading this Friday (31) down 0.34%, quoted at 104,090 points. The index turned and rose 0.10% to 104,560 points. Today, the market turns its attention to the processing of the new fiscal framework, which will replace the current spending ceiling. Now that the minister Fernando Haddad it has already won the endorsement of the Planalto, lacking those of Congress and the business community.

The Brazilian index follows, in parts, the market in New Yorkwhich fluctuated without a clear direction, hiding the game in the last trading session of March.

Around 9 am, Dow Jones It is S&P 500 advanced 0.19% and 0.15%, respectively, while the nasdaq retreated 0.07%.

Meanwhile, the dollar operated at a high of 0.18%, quoted at R$ 5.1028, breaking the cycle of declines of the last five days. However, with a few minutes of trading, the currency reversed the appreciation and fell 0.37%, to R$ 5.0783.

The day before, the currency was trading at R$5.09, the lowest value in eight weeks. The currency felt the impact of investors reacting positively to the release of the new fiscal framework and amidst the reading that the country remains attractive to foreign capital, considering the current level of interest.

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Ibovespa (IBOV) in an ‘end of fair’ atmosphere in the last trading session of the month (and of the quarter)

O Ibovespa (IBOV) used up all the gas it had in the final stretch of the month and may run out of steam in this last trading session in March. You investors went shopping throughout the week in search of “bargains” to “beautify their wallets”. As a result, the Ibovespa rose more than 5% in the period.

However, after hitting five highs in a row, the climate this Friday (31) may be “end of fair”. Yet, traditional managers of the Marketplacelike the Greencontinue in search of bargains, seeing the prices of Brazilian shares very discounted – and therefore attractive.

It may be, then, a unique opportunity to close March with a golden key. But even the markets international players are hiding the game this morning that precedes the trading session that also marks the end of the first quarter.

The fact is that 2023 still suffers losses for risk assets, accumulated since the beginning of the year. A brazilian scholarshipfor example, reaches this last session of the quarter with a devaluation of around 2.5%.

And although the perception of markets be more favourable, either in relation to the new tax framework Or the banking crisis, many points still need to be clarified. And the “products” on offer may be of lower quality. So, as they say, good looks can be deceiving.

Source: Moneytimes

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