Dollar Trades Higher

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The dollar experienced a slight increase on Friday, rising by 0.15% to R$5.3758 around 9:30 a.m. Meanwhile, Brazil’s Ibovespa stock exchange index opened at 10 a.m. Markets began the session closely monitoring a combination of economic indicators and political events, including international industrial figures and speeches by Federal Reserve (Fed) leaders. In Brazil, activity data and official events coincided with corporate news. Domestically, attention centered on the November IBC-Br release, an indicator viewed as a preview of the Gross Domestic Product (GDP). The index advanced 0.7% compared to October, exceeding market expectations of a 0.3% increase. Year-on-year growth reached 1.2%, and the 12-month accumulation showed gains of 2.4%. The market is also reacting to reports that Petrobras’ 2025 production exceeded company targets. On the internal agenda, Brazilian Central Bank President Gabriel Galipolo and President Luiz Inácio Lula da Silva are scheduled to participate in an event commemorating the 90th anniversary of the creation of the minimum wage. President Lula also has scheduled meetings with European Commission President Ursula von der Leyen and Council of Europe President António Costa.

The U.S. Dollar Index edged higher, nearing its monthly peak of 99.25. The Fed’s quantitative tightening (QT) process, which involves ceasing bond purchases from banks and not replacing funds from maturing bonds, typically strengthens the U.S. dollar. Experts anticipate that the Federal Reserve will likely pause its monetary-easing program during its meeting this month. According to the CME FedWatch Tool, the Fed is widely expected to hold interest rates steady in the 3.50-3.75% range for its January meeting. Investors are also tracking December industrial production data from the United States, along with speeches from Federal Reserve officials, including Michelle Bowman and Philip Jefferson. The U.S. Dollar Index Spot is slightly higher, hovering around 99.16. In the cryptocurrency market, Bitcoin is trading above $95,000, but retail demand is declining. Ethereum is trading between the 100-day EMA support and the 200-day EMA resistance. XRP has slid lower for the third consecutive day, influenced by a persistently weak derivatives market.

U.S. Dollar Ascendancy Predicted with PCE Data, Davos, BoJ Meeting, and EMA Climb

Looking ahead, the week’s key events for dollar traders include the U.S. PCE (Personal Consumption Expenditures) data release, the Davos conference, and the Bank of Japan (BoJ) meeting. The EMAs (Exponential Moving Averages) are beginning to climb. The 14-day Relative Strength Index (RSI) currently stands at 59.87, above its midline of 50. A rising trend line from 96.21 provides support around 98.11, while a horizontal resistance level at 100.27 could present a significant challenge on the upside. Source: G1 Disclaimer: This text does not necessarily reflect the opinion of the Uai portal. Overall, financial markets are responding to key economic data releases and central bank activities.

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