Dollar falls after rising in four consecutive sessions (VEJA.com/Reuters)
The dollar broke on Thursday a sequence of four consecutive high and closed down 1.11%, quoted at 3.56 reais. The improvement of the world's perception of China was crucial to curb the dollar's climb, which had risen 4.37% against the real since Friday of last week.
In the morning, the People's Bank of China (PBoC) announced measures to stimulate the economy, such as easing rules on real estate investments. On Wednesday, the Chinese Central Bank had injected 21.8 billion dollars in the local financial system. And third, the institution cut interest rates and reserve requirements for banks.
Thus, China's bags finally recovered five bearish trading sessions. The Shanghai Stock Exchange closed up 5.34% and boosted the negotiations around the planet. Commodity prices have risen significantly, especially for oil Brent for October, which closed up 9.50%, the largest daily percentage since March 2009. In the United States, relief from China was reinforced by domestic data. The US economy grew at an annualized rate of 3.7%, against projected increase of 3.3% and given the original reading of 2.3%.
The improvement in the mood of investors, however, does not indicate optimism or withdrawal from risk-averse posture. The falling dollar is essentially attributable to the realization of recent profits, following a similar movement of the dollar falling to currencies of other emerging countries.
In the Brazilian scenario, contributing factors as confirmation of Rodrigo Janot in the Attorney General's Office and the granting of an additional 15-day deadline for the government to explain to the EU Court of Auditors the accounts of President Dilma Rousseff 2014. On the other hand also can generate tension discussion on the return of the CPMF in 2016 and the draft federal budget for next year.
The main highlight of the day was on account deficit of 7.22 billion reais the government in July, the worst result since the start of the series in 1997. The data released by the National Treasury quietly influenced the interest markets and actions, but the dollar showed no significant reaction.
(With Estadão Content)
