According to the treasury director of Travelex Bank, Marcos Weigt, “China and the Robert Jefferson issue” weigh on the movement of the dollar against the real this morning. China it announced growth of 3.9% year-on-year, down from 0.4% the previous quarter, but it was still among the slowest expansions in decades as the country struggled with repeated city lockdowns to combat coronavirus outbreaks. In this sense, Chinese retail sales slowed down.
Another point of attention in the country is the re-election of Xi Jinping, concentrating even more power, causing a movement of risk aversion in some sectors of the Asian market. The yuan and the oil posted a negative move as investors weigh the impacts of the Chinese Communist Party meeting on the country’s stance, just as Chinese stocks closed lower.
Meanwhile, in the domestic arena, former deputy and ally of President Jair Bolsonaro (PL), Roberto Jefferson (PTB) was ordered into preventive detention after violating the precautionary measures of his house arrest, resisted and opened fire on federal police officers.
“The analysis is that the Roberto Jefferson episode causes wear and tear on the Bolsonaro campaign,” says Fernando Bergallo, director of FB Capital. “Furthermore, in this last week of the campaign, we will have much more TV time for Lula, due to the TSE’s decisions on the response request,” he adds.
Even locally, earlier today, The Focus Report of the Central Bank (BC), showed that the median of the estimates for the dollar at the end of this year remained at R$5.20. For 2023, the median of the estimates for the US currency also stopped at R$ 5.20 from one week to the next. By 2024, it went from BRL 5.10 to BRL 5.11.
Source: Ambito
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