Sunday, April 2, 2023

Dollar rises cautiously abroad, awaiting interest rate definition in the US

The dollar starts Friday, the 16th, higher against the real, in line with the sentiment of caution observed yesterday

The dollar starts Friday higher against the real, in line with the sentiment of caution observed yesterday, as investors await the monetary policy meeting of the Federal Reserve, the US central bank. The American currency strengthens against the vast majority of currencies around the world, while the stock exchanges register losses. With the shortest agenda in the United States, investors are bouncing off economic data from Europe and China.

The euro zone’s annual consumer inflation rate (CPI) reached a new all-time high of 9.1% in August, accelerating from 8.9% in July, according to final data released today by the European Union’s statistics agency, the Eurostat. Record CPI puts pressure on the European Central Bank (ECB) to keep raising interest rates. The ECB’s inflation target is 2%.

In China, economic activity showed signs of improvement in August, beating market expectations as government measures to support growth began to take effect, the National Bureau of Statistics (NBS) reported yesterday. Industrial production and retail sales rose more than expected.

In Brazil, the highlight of the morning is the General Price Index – 10 (IGP-10), which dropped 0.90% in September, after falling 0.69% in August, according to Fundação Getulio Vargas (FGV). ). This month’s deflation was greater than the median of estimates by the Broadcast Projections, which pointed to a 0.60% drop in prices.

At 9:48 am, the spot dollar was trading at R$5.2731, up 0.65%. In the futures market, the currency for settlement in October advanced 0.50% to R$5.2930. The Dollar Index (DXY), which measures the change in the dollar against a basket of strong currencies, rose 0.32% to 110.08 points.

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Nation World News Desk
Nation World News Desk
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