Ibovespa futures are trading between losses and gains in the first trading this Tuesday (3), the day when the Copom (Monetary Policy Committee) and US Central Bank interest meetings begin. Decisions will only be announced tomorrow, but investors are already anticipating a continuation of the monetary tightening cycle in both countries.
At 9:13 a.m. (Brazilian time), Ibovespa’s future was down 0.04%, at 108,035 points.
The commercial dollar was down 0.73% to R$5,035 in buying and R$5,036 in selling.
In the interest futures market: DIF23, +0.03 p., at 13.11%; DIF25, +0.04 p., 12.18%; DIF27, stable, at 11.98%; DIF29, -0.01 pages, 112.08%; and DIF31, -0.03 p., with a ratio of 12.16%.
The pre-market in New York is operating with high volatility, as investors are cautious about the monetary policy meeting that begins today in the US. The market expects a 0.5 percentage point rise in the US interest rate, which should represent an acceleration of monetary tightening by the Federal Reserve. The decision will be announced tomorrow, followed by a statement from Federal Reserve Chairman Jerome Powell.
Dow Jones futures are down 0.10%, while S&P 500 and Nasdaq futures are down 0.07% and 0.02%, respectively.
In Europe, stock markets pared gains and are offering yields on government bonds. Expectations of an acceleration of monetary tightening by both the Federal Reserve and the Bank of England, which decide on interest rates on Thursday, reinforced the view that stimulus measures must be withdrawn to combat rising global inflation. This is already reflected in the profitability of government bonds, such as that of the German Treasury, which fruit It reached 1% for the first time since 2015.
Bank shares also rose in the same perspective. “The narrative so far this year has been very much driven by inflation and interest rates. What the markets are trying to assess now is a slowdown in global growth and the impact that will have on monetary policy going forward,” he told the BBC. Reuters Dan Boardman-Weston, CEO of BRI Wealth Management.
In Asia, stock markets in mainland China remained closed for the Labor Day holiday. The markets also did not work today in Japan, Singapore and India. The Hong Kong Stock Exchange was an exception, with Alibaba shares in the spotlight. Shares fell 9% amid speculation that the company’s founder, Jack Ma, had been arrested in Hangzhou, where the company’s headquarters are. However, the authorities explained that it was a misunderstanding: another name with the same surname is the one who was arrested, to endanger national security.
Jack Ma has not appeared in public for a while. He is considered the richest man in China and is facing pressure from the country’s authorities, which have opened an antitrust investigation against Alibaba.
Technical Analysis by Pamela Simizato, Investment Analyst and Daily Specialist at Clear Corretora
“Another day of decline in IBOV left a wick at intermediate support at 106000. Still signs of buying strength, downtrend continues. Next support point at 100,000 and resistance at 108,000.”
“It continues to buy aggressively and is working in a resistance zone (R$5,060 / R$5,100). We can still consider it a rebound from last fall, but it showed quite a bit of strength in the candles, which mischaracterizes a correction move. Intermediate resistance Next comes at R$5,280 and the strongest resistance at R$5,350.”
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