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Ibovespa has a slight rise with the help of commodities; the dollar increases and closes at R$5.42

Oil and iron ore gains help Ibovespa to counter bearish move in international stock markets

CONTENTS CRIS FAGA/ESTADÃOHand handles dollar bills
The probability of interest rate hikes in the United States strengthened the dollar

O Ibovespamain index i Stock Exchange of Sao Paulo, increased by 3.08% this Monday, the 18th, and closed at 96,916 points. The Brazilian stock exchange went against the movements of the international markets, which mostly fell, with the fear of an increase in interest rates in the United States, even if it was 0.75 percentage points, and not one point as previously considered – the American Dow. Jones, S&P 500 and Nasdaq fell by 0.69%, 0.84% ​​and 0.81% respectively. Here, Ibovespa was pulled by the rise in commodities: the price of a barrel of Brent oil advanced by 4.47%, to 105.68 USD. The price of a ton of iron ore, on the other hand, rose 2.18% at the port of Dalian to $100.69. Petrobras common and preferred shares were the highlights of the trading session, rising 3.33% and 2.29% respectively.

The dollar spent most of the day down, but reacted at the end of trading and closed the session up 0.37%, quoted at R$5.42. The DXY index, which measures the dollar’s strength against a basket of six major currencies, fell 0.58% to 107.44 points. The U.S. currency strengthened as the worsening global situation dragged down global stock markets – fears of a recession and high interest rates prompted investors to seek the safety of the U.S. currency, which helped cushion losses abroad and, in the case of Brazil, , the transformation into profits.

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