At the beginning of the day, the US currency fell 0.58%, quoted at R$5.5821. The stock exchange's main stock index closed up 0.78%, at 131,005 points. Dollar banknote BearPhotos/Freepik The dollar opened higher this Tuesday (15), as global markets awaited new US corporate results. See below for a summary of the market. Reason: Ibovespa had its best month since November, but the dollar is not keeping up with the enthusiasm Dollar: when is the best time to buy the currency? Dollar At 9 am, the dollar rose 0.23, being quoted at R$5.5948. See more quotes. At the beginning of the day, the US currency fell 0.58%, to R$5.5821. With results, it accumulated: drop of 0.58% in the week; 2.48% per month in advance; Gain of 15.04% per year. Ibovespa Ibovespa starts operating at 10am. At the beginning of the day, the index rose 0.78%, to 131,005 points. With results, it accumulated: increase of 0.78% in the week; Loss of 0.62% per month; A drop of 2.37% year over year. What is the market moving? What is the market moving? Without major highlights in yesterday's news, investors focused on new speeches by the Minister of Finance, Fernando Haddad, and the director of monetary policy at the Central Bank, Gabriel Gallipolo, in the last trading session. Both participated in Macrovision, an event promoted by Etau BBA. During the event, Haddad said that the government does not rule out a new review of Gross Domestic Product (GDP) growth estimates for this year. In September of this year, the government had already raised the growth estimate for economic activity from 2.5% to 3.2%. “We may have to review this year’s GDP again”, stated the minister during the Macrovisão event promoted by Etau BBA. Furthermore, the minister also said that the economic team is in the process of “adopting all technical options” to implement the income tax reform, but highlighted that more time is needed until the studies are ready. “I don’t know if it will be possible to do it this year, especially because we have a tight calendar and unfinished business that we want to deliver this year, such as the Treasury project with the union, to review spending”, added Haddad. The market also heard a new speech from the current director of monetary policy and future president of the BC, Gabriel Gallipoli, who participated in the event. He reinforced the institution's cautious rhetoric, stated that the management of the basic interest rate (SELIC) needs to be more cautious after the country's economic activity data were stronger than expected and reiterated the BC's role in the pursuit of the inflation target . In the indicator agenda, the focus was on the BC's GDP preview, which was in line with new warming projections for the Brazilian economy. The Economic Activity Index (IBC-BR) rose 0.2% in August, reversing the 0.4% drop in the previous month. In comparison with August last year, the index increased by 3.1%, while in the accumulated period from 2024 until August the increase was 2.9%. In the minutes of its last meeting – when it raised the Selic rate by 0.25 percentage points per year, to 10.75% – the Monetary Policy Committee (CPOM) stated that economic activity and the job market continued to show “greater dynamics than expected”. The stronger-than-expected economy, however, has increased uncertainty about the country's inflation, while markets and the BC itself expect to see a Broad Consumer Price Index (IPCA) very close to the target. The inflation target for 2024 is 3%, which can vary from 1.5% to 4.5% to be officially met. The Focus Bulletin – a BC report that aggregates economists' estimates for the main economic indicators – released today, however, shows a new increase in expectations for this year's IPCA. Economists projected inflation at 4.39%, up from 4.35% the previous month. Expectations for the Selic rate have also been coming true in recent weeks. For this year, the market projects an interest rate of 11.75% per year and 11% per year for 2025. A month ago, these estimates were 11.25% and 10.50%, respectively. With information from Reuters news agency
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