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On a nervous day in the Brazilian market, the commercial dollar crossed the barrier of R $ 5.60 and closed at the highest nominal value, without considering inflation, since the creation of the real. The currency ended this Friday (24) sold for R $ 5,668, with an increase of R $ 0.14 (+ 2.54%). The commercial euro sold at R $ 6,116, closing above R $ 6 for the first time in history.
The exchange worked all day in decline, but collapsed after the announcement of the resignation of the Minister of Justice and Public Security, Sergio Moro. The Ibovespa index of B3, the Brazilian stock exchange, fell 5.45%, closing at 75,331 points, the lowest level since April 6. Around 12:30 p.m., the index fell 9.5%, threatening to trigger the circuit breaker, when the negotiations are interrupted for half an hour when the withdrawal exceeds 10%.
In relation to the dollar, the price started the day around R $ 5.55, but approached R $ 5.70 after the resignation of the minister. At the height of the day, around 2:50 p.m., the coin sold for R $ 5.74.
The increase could have been greater if the Central Bank (BC) had not intervened in the market. The monetary authority conducted four direct sale auctions of $ 2.175 billion in international reserves and two sale auctions with a repurchase commitment of $ 700 million. The BC also held auctions of new contracts for to exchange (sale of dollars in the futures market), but the result was not disclosed. The coin accumulates an increase of 41.25% in 2020.
In addition to Moro’s resignation, the market is being influenced by the prospect of falling interest rates. Last Wednesday (22), the president of the Central Bank (BC), Roberto Campos Neto, said that the scenario for the Selic (basic interest rate) changed after the last meeting of the Monetary Policy Committee (Copom). Lower interest rates make investments in emerging countries, such as Brazil, less attractive, which encourages capital withdrawals by foreigners. Internal political tensions also interfered with the market.
Abroad
Relative to other emerging countries, the real was the currency that depreciated the most today. The Ibovespa took off from the foreign market. Influenced by the recovery from the oil crisis and a package of aid to American companies, the Dow Jones index of the New York Stock Exchange closed the day with gains of 1.11%.
For several weeks, financial markets around the world have been going through a period of nervousness due to the global recession caused by the worsening of the new coronavirus pandemic. Interruptions in economic activity associated with the restriction of social activities hinder production and consumption, causing instabilities. However, the prospect of several European countries and regions of the United States relaxing the restrictions after overcoming the peak of the pandemic is encouraging for the markets.
Oil
International oil prices, which have plummeted in the past two days, continue to rebound today. June WTI barrel futures contracts, which serve as a benchmark for the North American market, ended the day at $ 17.11, an increase of 3.7%.
On Monday (20), the WTI contracts for May, which are no longer active, closed at negative prices for the first time in history, affected by low demand and high oil reserves.
Barrel Brent prices, which serve as a reference for the international market and for Petrobras, also recovered. Around 6 p.m., Brent sold for $ 21.83, 2.34% more.
However, the performance of the international market was not reflected in Petrobras shares, the most traded on the stock exchange. Affected by internal political tensions, newspapers (with the right to vote at a shareholders’ meeting) depreciated 5.9% on Friday. The preferred shares (with priority in the distribution of dividends) had a loss of 7.32%.
The oil price war started a month ago, when Saudi Arabia and Russia increased production, despite falling prices. According to Petrobras, oil extraction is only viable in the long term for prices starting at US $ 45. In the short term, the company can extract oil at US $ 19, within the limit of the company’s costs.
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