FOREX TradingCharts.com

Financial News: BRAZIL: Ibovespa Rises On Volatile Session, Fearing U.S.

BRAZIL: Ibovespa Rises On Volatile Session, Fearing U.S. Interest Rate Hike

11/05/2017 - 21:18:00 (RTTNews)

(RTTNews) - Ibovespa, the benchmark stock index in Brazil, rose 0.12% Friday, closing at 73,915.43 points amid high volatility on a session marked by economic data in the United States - which reinforced fears that the interest rate in that country could still rise this year and trigger the selling of emerging countries currencies. In the week, the Ibovespa fell 2.71%.

The Ibovespa fluctuated between +0.58% (74,254.03 points) and -0.99% (73,094.65 points).

In the U.S., data on services and orders to the industry came higher than expected, which overshadowed news on Jerome Powell's appointment to be the next Federal Reserve Bank chairman. Powell is well regarded by the market and considered dovish, or less prone to interest rate hikes.

"The probability of the U.S. interest rate going up in December has reached 100% today, and there are doubts as until when this rate will go up.The market anticipated and has already begun to price this movement," said José Costa, an economist at Codepe Corretora.

For him, however, the move was exaggerated, which may have been perceived by investors throughout the day, helping the Ibovespa to close near to stability. It also contributed to the positive closing the appreciation of shares such as Vale (+2.13%) and Itaú Unibanco (+1.59%).

In Brazil, the political landscape has also returned to demand cautious. A "Piauí" magazine report said that the Brazilian Finance Minister Henrique Meirelles revealed that the meetings of the board of J&F, of which he was a part, were false, since the council never met.

The proximity to the holding company of the Batista family brings vulnerability to Meirelles' possible candidacy for the presidency in 2018, with assessments that could also disrupt negotiations for the approval of a pension reform. The Lerosa Investimentos team predicts that next week can continue to be hectic, with a recovery of local assets depending on positive related to the fiscal scenario and the pension reform. "The reform is already set for next year, at best, which could mean another downgrade by risk agencies," Lerosa warned in a report.

The locally traded U.S. dollar ended up 1.28%, at R $ 3.308, the highest closing level since July 4 (R$ 3,31). The greenback rose against the Brazilian real tracking the strong movement in the sale of currencies from emerging countries after data above than expected in the United States. News about the Brazilian Finance Minister Henrique Meirelles also contributed to add stress on the market.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Germany's GDP Growth Rises On Exports, Investment (01 hr(s), 08 min(s), 24 sec(s) ago)
(RTTNews) - Germany expanded at a faster pace in the third quarter on robust foreign demand and in ...Full Story»

Iceland Jobless Rate Rises For Third Month (01 hr(s), 30 min(s), 24 sec(s) ago)
(RTTNews) - Iceland's unemployment rate increased for the third straight month in October, fig ...Full Story»

UK Retail Sales Rebound In November: CBI (01 hr(s), 44 min(s), 24 sec(s) ago)
(RTTNews) - British retail sales expanded in November following a significant contraction in Octob ...Full Story»

Eurozone Private Sector Growth Gains Momentum (02 hr(s), 06 min(s), 24 sec(s) ago)
(RTTNews) - The Eurozone private sector showed signs of growth momentum picking up in the fourth q ...Full Story»

Bulgaria Money Supply Growth Remains Stable In October (02 hr(s), 11 min(s), 24 sec(s) ago)
(RTTNews) - Bulgaria's money supply growth held steady in October, figures from the Bulgarian ...Full Story»

UK Q3 GDP Growth Improves On Spending (03 hr(s), 12 min(s), 24 sec(s) ago)
(RTTNews) - The UK economy expanded at a faster pace in the third quarter, largely driven by priva ...Full Story»

Taiwan Industrial Output Growth Slows More Than Forecast (03 hr(s), 25 min(s), 24 sec(s) ago)
(RTTNews) - Taiwan's industrial production growth eased at a faster-than-expected pace in Octo ...Full Story»

Eurozone Private Sector Growth Strengthens In November (04 hr(s), 06 min(s), 24 sec(s) ago)
(RTTNews) - Eurozone private sector activity growth strengthened in November, flash survey data fr ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Germany's GDP Growth Rises On Exports, Investment

11/23/2017 - 07:15 AM (RTTNews)
(RTTNews) - Germany expanded at a faster pace in the third quarter on robust foreign demand and in ...Full Story>>

Iceland Jobless Rate Rises For Third Month

11/23/2017 - 06:53 AM (RTTNews)
(RTTNews) - Iceland's unemployment rate increased for the third straight month in October, fig ...Full Story>>

UK Retail Sales Rebound In November: CBI

11/23/2017 - 06:39 AM (RTTNews)
(RTTNews) - British retail sales expanded in November following a significant contraction in Octob ...Full Story>>

Eurozone Private Sector Growth Gains Momentum

11/23/2017 - 06:17 AM (RTTNews)
(RTTNews) - The Eurozone private sector showed signs of growth momentum picking up in the fourth q ...Full Story>>

Bulgaria Money Supply Growth Remains Stable In October

11/23/2017 - 06:12 AM (RTTNews)
(RTTNews) - Bulgaria's money supply growth held steady in October, figures from the Bulgarian ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.