Dollar returns to R$ 5 with disclosure of GDP and agreement in the United States

Influenced by the domestic and foreign scenarios, the financial market had a day of relief this Thursday (1st). The dollar fell for the first time after three highs in a row and returned to close to R$ 5. The stock exchange rose more than 2% and recovered recent losses.

The commercial dollar ended the day sold at R$5.006, down R$0.067 (-1.31%). The quotation operated in a slight low during the morning, but intensified the fall in the afternoon, until closing at the low of the day.

On Wednesday (31), the US currency had closed at R$ 5.07 and reached the highest level in almost two weeks. With the performance of this Thursday, the currency accumulates a drop of 5.19% in 2023.

In the stock market, the day was marked by euphoria. The B3 Ibovespa index closed at 110,565 points, up 2.06%. The indicator was boosted by shares of oil and mining companies, which benefited from the appreciation of commodities (primary goods with international quotation), and by shares of banks and retailers, which rose after the release of the Gross Domestic Product (GDP, sum of all goods and services produced in the country) for the first quarter.

O 1.9% growth of the Brazilian economy in the first three months of the year exceeded the expectations of financial institutions. O record trade surplus in May contributed to reduce the pressures on the exchange rate, as the result indicates an increase in the inflow of foreign exchange into the country.

On the international scene, the approval of the agreement that allows for the expansion of the US public debt ceiling reduced the pressures on the dollar. Approved by the US House of Representatives this Wednesday (31), the proposal needs to be voted on by Monday (5) by the Senate, where resistance is less. The proximity of the end of the stalemate boosted the prices of commoditiessuch as oil and iron ore, which had fallen in recent days.