FX.co ★ Ibovespa Dips as Markets Await Key Speeches

On Friday, the Ibovespa index declined by 0.3%, dipping below the 137,000 mark as investors awaited speeches from the Finance Minister and the central bank’s Economic Policy Director. Internationally, attention was drawn to trade concerns and the U.S. PCE core inflation data, which showed a year-over-year increase of 2.7% and a monthly rise of 0.2%, surpassing predictions. Domestically, Brazil’s unemployment rate was reported at 6.2% for the three months ending in May, outperforming the anticipated 6.4%. Investors are also looking ahead to the release of the Treasury’s May Public Debt Report. On a global note, market sentiment received a boost with news of a U.S.-China agreement to accelerate the shipment of Chinese rare earth materials. In the corporate sector, Petrobras experienced a decline of 0.5%, with major banks also seeing losses (Itaú at -0.8%, Santander at -1.4%). Eletrobras decreased by 0.2%, Embraer fell by 1.2%, and meatpacking companies Minerva and Marfrig dropped by 0.6% and 1% respectively. Conversely, Vale saw a slight increase of 0.3%, while steelmakers showed mixed results (CSN up by 0.5%, Gerdau down by 0.4%), as did retailers (Americanas up by 0.3%, Magazine Luiza down by 1.3%).