On a day of relief in international markets, the dollar had its biggest daily drop in two years and closed at its lowest level since mid-April. The stock market surpassed the 90 thousand points barrier and closed at the highest level in almost three months.
The commercial dollar closed this Tuesday (2) sold at R$ 5.21, with a decrease of R$ 0.174 (-3.23%). The price fell throughout the session, until closing at the day's minimum value. In percentage points, this was the biggest one-day decline since June 8, 2018.
The currency closed at the lowest level since April 14 (R$ 5.191). The US currency accumulated an increase of 29.84% in 2020.
The commercial euro closed the day selling at R$ 5.82, down 2.67%. The commercial pound fell 2.71% and ended the session short at R$ 6.53.
The Central Bank (BC) intervened little in the market. The monetary authority offered up to US$ 620 million to roll over (renew) currency swap contracts – selling dollars on the futures market – which would expire in July.
Stock Exchange
In the stock market, the day was marked by euphoria. Ibovespa, the B3 index (Brazilian stock exchange), closed the day at 91,046 points, with a gain of 2.74%. The index is at its highest level since March 10, the day before the World Health Organization (WHO) declared the new coronavirus a global pandemic. At the time, the index had closed at 92,214 points.
Ibovespa followed the North American market. The New York Stock Exchange's Dow Jones index closed Wednesday with a high of 1.05%. Despite the intensification of anti-racist protests in the United States, investors reacted to the drop in new cases of covid-19 in North American regions and European countries.
For several weeks now, financial markets across the planet have been going through a period of nervousness due to the global recession caused by the worsening of the new coronavirus pandemic. In recent days, investments have fluctuated between possible gains from the relaxation of restrictions in several European countries and regions of the United States and setbacks in the fight against the disease.
Source: Industrial Pig Farming
READ TOO:
{module 441}
{module 442}
