On September 26, 2024, the US dollar weakened against the Brazilian real, closing at R$5.4447, down 0.57% from the previous day. This decline was part of a broader trend as the dollar index fell by 0.37% against major currencies.
Factors contributing to the dollar’s decline included China’s announcement of new economic stimulus measures to boost growth. The People’s Bank of China implemented aggressive monetary easing to counter weak domestic demand and a declining real estate market.
China’s stimulus plans had a positive impact on global markets, leading to a surge in commodity prices, benefiting countries like Brazil. Meanwhile, the US economy showed resilience with 3.0% GDP growth and lower jobless claims.
Global and Brazilian Economic Outlook
Brazil’s Central Bank projected a 3.2% GDP growth for the year but indicated a slowdown in the following year. Inflation projections were higher, prompting expectations of an extended interest rate hike cycle.
With market focus on upcoming economic data releases, the global economic landscape remains dynamic, influencing currency markets and investor decisions.