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On the last day of operations before Christmas Eve, the dollar registered a robust increase of 1.87% this Monday (23/12), quoted at R$6.18, with attention still focused abroad. Last week, the Federal Reserve (Fed) — the US Central Bank — surprised the market, with the projection of a more moderate pace in interest rate cuts next year. At the meeting that ended last Wednesday, the Fed reduced interest rates in the country by 0.25%, to a level of 4.25% to 4.50% per year.
Dollar breaks new closing record/Photo: Freepik
In a week of lower liquidity and few economic announcements due to the Christmas holiday, markets are still digesting the statement and projections published by the Fed, in the opinion of Research manager and head of content at Nomad, Paula Zogbi.
“The projections of high interest rates for longer, with higher inflation and pricing of only 2 cuts in 2025, brought volatility to risk assets and more strength to the dollar, which has even more strength in relation to the real than to other currencies, thanks to domestic fiscal risks”, he assesses.
The São Paulo Stock Exchange Index (Ibovespa/B3) ended the day down 1.09%, at 120,766, with market agents still digesting the fiscal package sent by the federal government, approved in the National Congress last week past.
Last weekend, the Ministry of Finance updated the impact that the dehydration of projects had on parliament to R$2.1 billion. As a result, the government’s new forecast is to save R$69.8 billion by 2026, compared to R$71.9 billion in the previous projection.
Petrobras shares (PETR4) rose 0.03%, even with the drop in the price of oil on the international market. Concerns about a supply surplus next year, in the face of weaker trade, in addition to the appreciation of the dollar, make the commodity lose value abroad. Vale shares (VALE3) rose 0.42%, at the same pace as the rise in iron ore in China.
