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With no breath for recovery, Ibovespa future operates between losses and gains; dollar and interest rates rise again

The Ibovespa future operates between losses and gains in the first trades this Friday (6), with a slight advantage over the outside this morning. The pre-market in New York, in turn, does not find the breath for a recovery and follows the losses of yesterday, one of the worst days for the Stock Exchanges in two years.

The highlight of the day is the payroll, the official US labor market dataset. In April, 428,000 jobs were created, above the consensus Refinitiv expects the creation of 391 thousand. The unemployment rate remained stable at 3.6%.

The job market remains heated and has been pointed out by the Federal Reserve as a generator of inflation for the US economy, with the supply of jobs exceeding the demand for jobs and rising wages. With the unemployment rate falling, the monetary authority would have room to raise interest rates more aggressively, in order to stabilize prices.

The day should also be one of repercussions for the results of important companies on the Brazilian Stock Exchange, such as Bradesco (BBDC4) and Petrobras (PETR3;PETR4), which published better-than-expected figures.

At 9:11 am (Brasília time), the Ibovespa futures for June advanced 0.18%, to 107,025 points.

The commercial dollar opened with moderate gains and rose 0.25%, to R$5.028 on purchase and R$5.029 on sale.

Futures interest rose for the second consecutive day: DIF23, +0.02 pp, at 13.26%; DIF25, +0.06 pp, at 12.39%; DIF27, +0.08pp, at 12.24%; and DIF29, +0.09 pp, at 12.33%.

In New York, futures retreated more sharply: Dow Jones futures were down 0.39%, while S&P 500 and Nasdaq futures were down 0.51% and 0.67%, respectively.

European indexes are expected to end the week with the worst performance in two months, also reflecting the sell-off on Wall Street and the prospect of a more aggressive monetary tightening cycle to contain the global price spike. Mainland consumer stocks are the most penalized in today’s session.

Yesterday, the Central Bank of England raised interest rates to 1% and, in announcing the decision, warned of the risk of a recession. The pound sterling trades at its lowest in two years against the dollar. The Stoxx 600 index, which has stocks from 17 European countries, dropped 1.52%.

Asian markets largely fell on Friday after an overnight slump on Wall Street sent the Dow Jones Industrial Average to its worst day since 2020. Hong Kong’s Hang Seng index led losses regionally as it tumbled 3.81 %, closing at 20,001.96.

Data shows that the recent Covid lockdowns in China are hitting more than just Beijing and Shanghai, where the bulk of the new infections have been found. In addition, the local press claims that the Chinese government is not willing to give up its Covid zero policy. Stimulus measures are expected over the weekend.

As for the Japan Stock Exchange, which reopened today after a local holiday. closed higher, driven by shares of exporters, with the appreciation of the dollar against the yen. Airline shares also rose with the prospect of easing the entry of tourists into the country. Today, Japan allows 10,000 people a day to enter the country, just on business occasions, visiting technicians and students.

Technical analysis by Pamela Semezatto, investment analyst and day trader specialist at Clear Corretora

Ibovespa

“Yesterday’s candle, even though it didn’t close below the low of the previous candle, frustrated the high expectation and still doesn’t define a trend in the short term. Next support: 100,000; next resistance: 109,000.”

Dollar

“It continues without breaking the intermediate bottom of BRL 4.945 and without breaking the strong resistance of BRL 5.130. Still in consolidation, within a movement that we can still consider as a rebound from the last fall.”

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