The Ibovespa, the main index of the Brazilian Stock Exchange (B3), ended the day on Tuesday down 0.45%, at 104,000 points.
On the other hand, the dollar closed this Tuesday’s trading session with a high of 0.44%, quoted at R$ 5.19.
Among the movements that affected the Ibovespa’s performance is the declaration of the Fed’s president – the United States Central Bank – Jerome Powell, who gave signs of a possible increase in the country’s basic interest rate as a measure to control inflation. However, the prospect of higher interest rates raises the dollar projection in the market.
“If the totality of the data indicates that a faster tightening is warranted, we will be prepared to increase the pace of interest rate hikes,” Powell said in a speech to the Senate Banking Committee.
On the other hand, internal investors were waiting to disclose the country’s new fiscal framework.
In a statement yesterday, the Minister of Finance, Fernando Haddad, said that the design of the new fiscal rule is already closed.
Haddad met with the president of the Central Bank, Roberto Campos Neto, on Tuesday afternoon.
At the end of the meeting, the minister said only that several topics were discussed but did not go into detail. Campos Neto left without making any statements.
Main stock market indexes, besides Ibovespa:
S&P 500: 3.986,43 (-1,53%)
Nasdaq: 11,530.33 (-1.25%)
Dow Jones: 32.856,86 (-1,72%)
Dollar: R$ 5.19 (+0.46%)
Euro: R$ 5.47 (-0.71%)