Ibovespa futures fall and dollar slightly higher with investors waiting for the Fed amid warnings about economic slowdown

The Ibovespa futures contract for October recorded a slight drop of 0.29%, at 110,300 points, at 9:10 am (Brasilia time) this Friday (16). The dollar futures with the same maturity is up by 0.12%, to R$ 5,273, at the same time. The commercial dollar had a stronger increase, of 0.28%, to R$ 5.253 in the purchase and R$ 5.254 in the sale at the same time.

The last trading session of the week continues to be risk-averse for the main world markets, with the main US stock futures indexes down between 0.8% and 1% on Friday, with investors waiting for another big rise in interest rates in USA next week.

This amid concerns about the prospects of a global recession in 2023 after the International Monetary Fund and the World Bank warned the day before of the risk of this scenario, amid high inflation, tight financial conditions and problems in supply chains.

The night before, FedEx said quarterly results were negatively impacted by the global drop in its business volume, which accelerated towards the end of the period, and withdrew its financial forecast as it expects a worse scenario ahead. The company released preliminary revenue and profit figures for the fiscal first quarter (ending in August) below analysts’ projections on Wall Street. FedEx shares fell more than 15% in aftermarket trading on Thursday.

Asian stocks closed lower, even after the release of positive economic data for the Chinese economy in August, and European equities and Wall Street futures also fell.

The session was down for January’s most-traded iron ore on China’s Dalian Commodity Exchange, which ended trading down 1.2% at 715 yuan ($101.89) a tonne.

Iron ore futures on the Dalian and Singapore exchanges fell on Friday after data showed China’s property sector contracted further in August, with a seasonal increase in demand usually seen from September still not showing. on the horizon. In August, real estate investment in the world’s biggest steel producer fell at the fastest pace since December 2021, according to Reuters calculations based on official data. New home prices fell 1.3% from a year ago, the fastest pace since August 2015.

On the other hand, the main contracts for Brent and WTI oil advanced about 1%, although they are heading for a new weekly decline.

The indicators agenda will bring, at 11:00 am, US consumer confidence data. Earlier, the euro zone confirmed a record inflation of 9.1% for August, year-on-year.

In Brazil, the session marks the expiration of stock options, which can add volatility to the index.

In the economic news, FGV released, at 8 am, the IGP-10 for September, with a deflation of 0.90%, higher than expected by analysts in a Reuters survey, with a drop of 0.44%.

Already on the political radar, in the final stretch of the dispute for the October 2 elections, Datafolha released a poll on Thursday night showing the candidate Luiz Inácio Lula da Silva (PT) stable in the lead of the dispute, with 45% of the intentions in the first round, while President Jair Bolsonaro (PL) fluctuated one point down and went to 33%.

(with Reuters)

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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