On a day of reduced trading, the dollar fell sharply and the stock market rose by almost 3%. In the international market, external good humor prevailed in the midst of the Thanksgiving holiday in the United States. In Brazil, the decision of the president of the Superior Electoral Court (TSE), Alexandre de Moraesof rejecting the bill’s appeal against 279,000 electronic voting machines in the second round, contributed to easing tensions.
The commercial dollar ended this Thursday (24) sold at R$ 5.31, with a decrease of R$ 0.064 (-1.2%), The quotation operated in decline throughout the session, reaching R$ 5.30 at the low of the day, around 12:15.
With this performance, the US currency accumulates a high of 2.79% in November. In 2022, the currency drops 4.77%.
In the stock market, the Ibovespa index, from B3, had a strong recovery. After two consecutive declines, the indicator closed at 111,836 points, up 2.75%. The stock market is at its highest level since the 14th, the eve of the Proclamation of the Republic holiday.
With the North American market not working this Thursday, optimism prevailed in relation to the minutes of the last meeting of the Federal Reserve (Fed, North American Central Bank). In the document, released this Wednesday (23), the directors indicated that they may reduce the rate of increase in interest rates in the next meetings as inflation in the United States begins to be contained.
Higher interest rates in advanced economies encourage capital flight from emerging countries such as Brazil. Smaller-than-forecast increases help contain the outflow of resources.
In the domestic market, in addition to Moraes’ decision, which upheld the election results and imposed a R$22.9 million fine on the coalition for which the candidate Jair Bolsonaro, other factors weighed in to alleviate the turbulence of recent days. The first was the postponement of the proposed amendment to the Constitution (PEC) that intends to remove up to R$ 198 billion from the spending ceiling (R$ 175 billion for Bolsa Família and R$ 23 billion for federal investments).
According to the rapporteur for the 2023 Budget, senator Marcelo Castro (MDB-PI), the PEC should be filed next Tuesday (29). Center senators intend to reduce the impact of the PEC and limit the period for the exclusion of these expenses from the spending ceiling to two years.
*With information from Reuters