Wednesday’s Morning Call: Evaluating Economic Activity and Dollar Trends
Today, financial observers are closely monitoring two key developments: the rising dollar and the release of February’s economic activity index.
The dollar’s journey saw it ascend to R$ 5.18 by Monday. By Tuesday, it increased by 1.64%, closing at R$ 5.2697.
As the day progresses, further shifts are anticipated, with experts shedding light on this rise.
Attention is also drawn to the IBC-Br, an economic activity index from the Central Bank that gauges potential GDP growth in Brazil.
Recent adjustments from the Focus Bulletin have nudged the 2024 GDP growth forecast from 1.90% to 1.95%, with predictions holding steady at 2% for the following two years.
An international focus in today’s discussions is the release of the Beige Book in the United States, a key indicator of economic conditions.
The Brazzilian stock market responded negatively to the rise of the dollar, with a close down by 0.75% at 124,399 points on Tuesday.
U.S. stock exchanges showed mixed results following Federal Reserve Chairman Jerome Powell’s indication that high interest rates might persist.
These comments influenced the markets amidst a backdrop of corporate earnings and geopolitical tensions.
Wednesday’s Morning Call: Evaluating Economic Activity and Dollar Trends
Significant developments include a 6.1% increase in Vale’s iron ore production in Q1 2024 over the previous year.
Mercado Libre has announced a massive investment of $4 billion in Brazil for 2024. Additionally, China’s GDP growth for Q1 2024 surpassed expectations.
The Dow Jones increased slightly by 0.17% to 37,798.97 points; however, the S&P 500 dropped by 0.21% to 5,051.41 points, and the Nasdaq decreased by 0.12% to 15,865.25 points.
The VIX, a measure of market volatility, decreased by 4.32% to 18.40 points, reflecting a decrease in market anxiety since its last peak in October.
Live Market IntelligenceBrazil Morning Call — Live Board
Rio Times · Live Market Intelligence
Brazil Morning Call — Live Board
+0.66%
172,457.76
+0.66%
71,204.98
-0.84%
10,660.26
+0.33%
2,848,945
—
2,452.46
-0.02%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 172,457.76 | +0.66% | +9.73% | 171,324.31 | 172,715 | 171,132 | — |
| USD/BRL | 5.67 | +0.45% | +7.09% | 5.64 | 5.67 | 5.63 | — |
| EUR/BRL | 6.25 | +0.93% | +1.93% | 6.19 | 6.26 | 6.21 | — |
| SELIC | 13.75% | — | — | — | — | — | |
| BRENT | 95.84 | +0.02% | +49.28% | 95.82 | 97.12 | 95.07 | 22,079 |
| WTI | 88.56 | -0.20% | +47.82% | 88.74 | 89.64 | 87.80 | 181,210 |
| IRON ORE | 161.91 | — | +55.06% | 161.91 | 161.91 | 1 | |
| GOLD | 3,886 | +0.03% | -4.62% | 3,885 | 3,927 | 3,871 | 151,010 |
| SILVER | 49.12 | -1.70% | -2.97% | 49.97 | 50.73 | 48.41 | 49,657 |
| LITHIUM | 58.76 | -1.13% | -7.86% | 59.43 | 59.59 | 58.42 | 159,497 |
| SOY | 1,232 | +0.37% | +6.42% | 1,227 | 1,241 | 1,219 | 103,557 |
| CORN | 445.50 | +0.68% | +2.47% | 442.50 | 450.25 | 441.75 | 245,686 |
| WHEAT | 593.25 | +1.54% | +9.00% | 584.25 | 600.00 | 582.00 | 99,685 |
| COFFEE | 279.25 | -0.34% | -30.63% | 280.20 | 279.20 | 272.35 | 17,133 |
| SUGAR | 18.40 | +0.99% | +24.32% | 18.22 | 18.54 | 18.16 | 59,813 |
| ORANGE JUICE | 136.85 | -2.91% | -12.02% | 140.95 | 141.25 | 135.00 | 973 |
| COTTON | 79.02 | +0.44% | +26.72% | 78.67 | 79.90 | 78.63 | 18,270 |
| BEEF | 224.80 | +2.70% | +1.59% | 218.90 | 225.88 | 221.45 | 23,034 |
| CATTLE | 335.35 | -0.10% | -1.32% | 335.67 | 336.98 | 329.53 | 9,700 |
| COCOA | 5,123 | +1.13% | -2.68% | 5,066 | 5,330 | 5,169 | 27,100 |
| PETR4 | 45.30 | +1.34% | +39.43% | 44.70 | 45.44 | 44.62 | 23,431,200 |
| VALE3 | 63.50 | -0.70% | -3.30% | 63.95 | 64.24 | 63.12 | 11,175,700 |
| SUZB3 | 54.77 | -2.27% | +14.92% | 56.04 | 55.98 | 54.66 | 3,845,300 |
| KLABIN | 17.39 | -1.42% | -2.53% | 17.64 | 17.76 | 17.34 | 2,761,600 |
| SLCE3 | 18.28 | -0.44% | +24.26% | 18.36 | 18.65 | 18.01 | 2,427,000 |
| ABEV3 | 15.79 | +0.25% | +15.85% | 15.75 | 15.83 | 15.64 | 13,254,800 |
| ITUB4 | 42.27 | +1.42% | +7.66% | 41.68 | 42.56 | 41.62 | 19,532,400 |
| BBDC4 | 14.52 | +1.40% | -25.46% | 14.32 | 14.54 | 14.27 | 32,353,600 |
| BBAS3 | 15.10 | -2.45% | -32.89% | 15.48 | 15.60 | 14.98 | 85,573,900 |
| B3SA3 | 14.89 | +0.88% | +2.90% | 14.76 | 14.94 | 14.53 | 34,792,900 |
| WEGE3 | 51.31 | -0.66% | +14.48% | 51.65 | 52.05 | 50.93 | 7,741,000 |
| PRIO3 | 63.30 | +0.00% | +58.93% | 63.30 | 63.83 | 62.65 | 10,460,300 |
| RENT3 | 30.07 | +1.66% | -28.47% | 29.58 | 30.35 | 29.58 | 7,599,300 |
| AZZA3 | 15.91 | -5.86% | -45.85% | 16.90 | 17.10 | 15.72 | 6,641,600 |
| CSNA3 | 3.72 | -12.06% | -56.79% | 4.23 | 4.14 | 3.71 | 54,060,600 |
| GGBR4 | 24.73 | -0.96% | +30.78% | 24.97 | 25.09 | 24.53 | 5,458,200 |
| ENEV3 | 26.81 | -0.70% | +38.98% | 27.00 | 27.09 | 26.64 | 5,990,500 |
| LREN3 | 9.72 | +3.40% | -34.46% | 9.40 | 9.77 | 9.34 | 28,045,200 |
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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