Financial markets had another day of recovery. The stock market rose for the third consecutive session. And the dollar closed below R$ 5.
Amid the sense of relief in global markets, the commercial dollar closed down 0.75%, at R$ 4.996 on the sell side. It was its third consecutive fall, which had not happened since December 2019. It was also the first time it closed below R$ 5 in the last two weeks.
The main index of the Brazilian stock exchange, the Ibovespa, rose 3.67%, to 77,709.66 points, adding its third day of gains. This week, the gain reaches 15.86%.
GDP forecast set to zero
Today's economic projections released by the Central Bank of Brazil resonated among investors. In its Quarterly Inflation Report, the Central Bank set its projection for the Gross Domestic Product (GDP) at zero for 2020. In December, the projection was 2.2% of growth. This change is linked to the strong economic impacts resulting from the coronavirus pandemic.
The Central Bank's Economic Activity Index (IBC-Br), which is considered a kind of informal preview of GDP, rose by 0.24% in January, compared to December. Compared to January 2019, the indicator advanced by 0.69%.
Unemployment and economic measures in the world
News from the United States was also a hot topic on the dollar and stock markets around the world. The US Senate approved a US$1.4 trillion bill to help unemployed workers and industries affected by the coronavirus pandemic. In addition, billions of dollars were provided for the purchase of necessary hospital equipment.
In the United States, there was also growth in the number of initial claims for unemployment benefits. They rose to a record 3.28 million last week, up from a revised 282,000 the previous week. The previous high was 695,000 in 1982.
The group that brings together the leaders of the world's largest economies, G20, announced an investment of US$1.4 trillion in the economy.