INSUBCONTINENT EXCLUSIVE:
November began with a notable stir in financial markets as the U.S
dollar reached R$ 5.871 ($1,029) by midday
This marked its highest rate since May 13, 2020, when it closed at R$ 5.901 ($1,035).Several factors contributed to this increase, including
employment data, and lower-than-expected U.S
Department of Labor reported only 12,000 new non-farm private sector jobs.Initially, this weak job growth led to a rise in Brazilian stocks
and a drop in the dollar, as U.S
10-year Treasury yields fell by 1.43%, reaching a low of 4.224%.Despite this initial reaction, market sentiment stabilized upon reviewing
the unemployment rate, which remained steady at 4.1% in the U.S.Dollar Dips Slightly Amid Global Pressures and Domestic Uncertainty
(Photo Internet reproduction)This stability suggested a robust labor market and reinforced expectations that the Federal Reserve would slow
manufacturing PMI at 11:45 AM added to market uncertainty
The ISM Chicago reported a PMI drop to 46.5 from an expected 47.6
from Manchester Investimentos noted that the lower PMI raised concerns about the U.S
contributed to investor unease, as they were anticipated post-municipal elections but are now postponed due to Finance Minister Fernando
elections on November 6 add another layer of volatility to the market
Zogbi noted that potential expansionary fiscal policies from candidates could further influence currency strength during this period of
