The dollar is working at a high level against the real on Tuesday morning, reflecting the external environment where the U.S. currency is working with strength and commodities are regaining the previous day’s highs.
In this scenario, investors are waiting for the U.S. economic data as they prepare locally for a holiday on Sept. 7.
At 10:23, the trading dollar was trading with a gain of 0.89% at R$ 5.1993. The high for the day was R$5.2068.
After the return of the holidays in the United States, the U.S. currency is strong and gaining against most world currencies. The DXY index, which measures the dollar’s strength against a basket of six major currencies, rose 0.69% to settle at 110.30 points.
“We see that the international [scenario], with the appreciation of the dollar and the downward movement in some commodities, is weakening the real,” said Camila Abdelmalack, chief economist at Veedha Investimentos.
In a letter to clients, the trader of Renascença Luís Felipe Laudisio also highlights that today, commodities “return part of yesterday’s movement and natural gas trading in Europe falls 13%, with the leaders of the search for solutions to the energy crisis.
Brent oil contracts traded down, while iron ore in northern China fell.
Ahead, investors await the U.S. purchasing managers’ index data for the services sector and composite industries (PMI) released by S&P Global.
In addition, local preparations for Sept. 7 also affect the foreign exchange market. “This [holiday] may weigh heavier in the afternoon,” said Veedha’s Abdelmalack.