INSUBCONTINENT EXCLUSIVE:
Bank of Brazil will release the Focus Report at 8:30 AM, providing insights into market expectations for various economic indicators, which
Trade BalanceBrazilian Markets on FridayThe Brazilian stock market experienced a downturn on Friday, October 11, 2024, as the Ibovespa index
closed at 129,992.29 points
This 0.28% decline capped off a challenging week for investors, with the index falling 1.37% over the past five trading sessions.Interest
The futures interest rate curve saw substantial increases across all maturities
The January 2026 DI contract rose to 12.705%, up from 12.593% previously.The U.S
dollar strengthened against the Brazilian real, closing at R$5.61, a 0.5% increase
This movement aligned with broader trends in international markets, where risk aversion was evident.U.S
stocks closed at more all-time highs as JPMorgan Chase, Wells Fargo and other big financial companies rallied following better-than-expected
profit reports.The S&P 500 rose 0.6%, topping its all-time high set earlier this week
The Dow Jones Industrial Average jumped 1% and also notched a record.Commodities UpdateOil futures closed lower on Friday, October 11, as
investors focused on Chinese demand and developments in the Middle East conflict
WTI crude for November delivery fell by 0.38% to $75.56 per barrel.Brent crude for December traded on the Intercontinental Exchange, dropped
0.45% to $79.04 per barrel.The price of gold climbed on Friday, October 11, increasing by 1.40% to reach $2,676.30 per troy ounce on the
Comex division of the New York Mercantile Exchange.Corporate NewsCemig, a major Brazilian energy company, has achieved a top-tier credit
for a significant shift as production challenges in Brazil threaten to create a deficit
its doors for proposals in the second phase of Drex testing, focusing on smart contracts
Companies can submit their ideas from October 14 to November 29, 2024.Underlying SentimentThe Brazilian financial market has recently
witnessed a significant shift in interest rate expectations
Investors now predict the Selic rate will reach between 13.25% and 13.5% by the end of the current monetary tightening cycle.This projection
marks a substantial increase from the current Selic rate of 10.75%
Higher interest rates could impact borrowing costs, investment decisions, and overall economic growth.As the situation unfolds, market
