Get the edge with up-to-the-minute forex market news and insights.
The Ibovespa fell 0.4% to close at 185,229 on Friday, pressured by the latest inflation data and volatility in commodity markets. Brazil’s General Price Index – Market (IGP-M) rose 1.47% in the second preview for September, reversing the 0.36% deflation seen in the same reading for August. At the same time, oil prices swung sharply amid persistent concerns over global supply. Higher energy costs continue to fuel inflationary pressures and, in turn, expectations of higher borrowing costs.
In the equity market, major banks declined, with Itaú down 0.6% and Bradesco losing 0.9%. Utilities also retreated, led by Axia, which fell 2.9%. Mining stocks traded lower despite a rise in Chinese iron ore prices: Vale slipped 1.5%, CSN Mineração dropped 1.9%, and Usiminas lost 2.7%. Cemig edged 0.6% lower after JPMorgan reiterated its sell rating on the stock. Petrobras dipped 0.2% even as oil prices moved higher. Over the week, the Ibovespa posted a 1.1% loss.
The material has been provided by - RobotFX.Org
Reduce lag and improve accuracy with the NonLagMA Expert Advisor for MT4/MT5. Discover it.
Boost your trading with advanced tools from RobotFX. Visit robotfx.org for expert advisors and indicators.
Download NOW!
No comments:
Post a Comment