Protests in China, transition in Brazil and more news

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The highlights of the day are:

-The world stock exchanges have a low day this Monday (28).

-In Asia, we had a day of decline in the markets, with protests in China against the zero tolerance policy against covid-19 imposed by the government of Xi Jinping, which creates uncertainty about the growth of the Chinese economy. Despite some relaxations after the protests, the government has reiterated the policy, which should keep markets under pressure. Even with this scenario, iron ore rose another day, up 2.37%, in Dailian.

-Brent crude fell 3% at $81.08 on fears that protests in China will affect demand for the commodity and after news of the US government’s release to Chevron to pump oil in Venezuela again , which could attract other companies to do the same.

-In the US, stock futures are operating lower, in a week that will have new data on employment and with investors keeping an eye on the speeches of members of the Fed (Federal Reserve, the US central bank).

-In Europe, Christine Lagarde, president of the European Central Bank (ECB), will speak at 11:00 am, with the market looking for more signals about the direction of the European economies.

-Here in Brazil, investors remain attentive to the outcome and size of the Transition PEC proposal, in addition to the awaited definition by the Minister of Finance, with a possible recreation by the Ministry of Planning. After Fernando Haddad’s speech at a Febraban event was not well received by the market, investors and businessmen demonstrate impatience over the definition of command of the economy in the future government.

-Today, we will have the Focus Bulletin with market projections for the Brazilian economy. Tomorrow IGP-M data for November will be released. The week will still have the unemployment rate from the Continuous Pnad on Wednesday, the result of the Gross Domestic Product (GDP) for the 3rd quarter on Thursday and the industrial production for October on Friday.

-This Monday, the expectation is of low liquidity in Brazil, with the Brazilian selection in the World Cup scheduled for 1 pm emptying the local agenda. Thus, instability will continue to reign in the Ibovespa and especially in the dollar, with formation of the Ptax rate in the middle of the week.

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