On Monday, the U.S.
dollar saw a minor decrease, continuing its recent slump amid global currency weaknesses.This week, investors are keenly observing crucial events, including Tuesdays Ptax formation and the Federal Reserves monetary policy announcement on Wednesday.The Central Bank engaged in the market, auctioning up to 12,000 traditional foreign exchange swap contracts to extend the maturity set for July 1, 2024.By the close of trading, the spot dollar had declined by 0.23%, settling at R$ 5.104 for both buying and selling.However, at 5:38 PM Braslia time, the closest future dollar contract had decreased by 0.10%, reaching 5.120 points.Dollar Dips as U.S.
Fed Rate Decision Looms.
(Photo Internet reproduction)Commercial Dollar Rates:Selling: R$ 5.115Buying: R$ 5.114Tourist Dollar Rates:Selling: R$5.325Buying: R$ 5.145All eyes are now on the Federal Reserves decision this Wednesday.
Expectations are leaning towards a potential delay in U.S.
interest rate cuts due to recent challenging inflation figures.In addition, Federal Reserve Chair Jerome Powell has noted that future decisions will hinge on the incoming economic data.Market projections indicate the Fed will likely keep interest rates between 5.25% and 5.5%, according to the CMEs FedWatch tool.Investors are currently anticipating just one rate reduction this year, expected in November.Additionally, there is heightened alertness in the markets regarding possible interventions by Japanese authorities to address the yens near 11% fall this year.As these pivotal financial events unfold, global markets remain watchful.
There could be potentially significant impacts on international financial stability and economic forecasts.