Stock market rises and dollar falls in a week of fears with the banks

Ibovespa comes from five trading sessions followed by lows

A handbag go up and the dollar falls on the morning of this Thursday 16, in a week marked by fears for the banks. At 11:03, the Ibovespa increased by 0.64%, to 103,332.14 points, after five consecutive low trading sessions. OR the dollar, in turn, fell by 0.18% at 10:35, at BRL 5.2840.

Over the past seven days, US banks Silicon Valley Bank (SVB) AND Bank signature broken, while in Europe the Credit Suisse began to address a crisis that was reflected in world stock exchanges on Wednesday 15th.

Brazilian Scholarship

Ibovespa started trading without a clear direction. Shortly after the opening auction, it showed a slight decline before showing a moderate increase. The appreciation of the index is supported by the shares of large banks, such as Banco do Brasil, Bradesco, Itaú and Santander.

Despite oil depreciating by more than 1% in the London and New York futures markets, Petrobras shares are hovering around Wednesday’s closing prices, sometimes down, sometimes up.

Dollar and future interest

The dollar started showing a slight decline against the real soon after the ECB decision. Interbank Deposit Agreement (DI) rates, on the other hand, are showing mixed signals.

Short-term yields are flat from yesterday’s adjustments. Those with intermediate terms show a slight decline.

Abroad

European stock markets lost steam on Thursday, with AC Milan turning negative after the European Central Bank (ECB) raise interest rates by 0.50 percentage points. The Euro has also lost strength, but is still trading higher. And New York stock markets opened lower.

The ECB raised deposit rates from 2.50% to 3% and lending rates from 3.25% to 3.75%, at a time of uncertainty regarding the region’s financial system.

For the ECB, the high level of uncertainty reinforces the importance of a data-dependent approach. The bank revised its forecast for eurozone GDP growth in 2023 to 1.0%. “We are monitoring market tensions closely and will act if necessary.”

Source: Terra

Rose

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