Dollar Begins Day in Decline

by Ahmed Hassan February 3, 2026

written by Ahmed Hassan February 3, 2026

Key Takeaways

Created with AI - we're still experimenting, so apologies if it misses the mark

The Brazilian real strengthened against the dollar, trading at R$5.2415, after minutes from the Monetary Policy Committee meeting suggested a possible interest rate cut in March.
Industrial production in Brazil decreased by 1.2% in December, marking the largest monthly decline since July 2024 and exceeding expert predictions.
The Mercosur-EU trade agreement, signed last month in Paraguay, was submitted to Congress in Brazil for approval, aiming to gradually eliminate or reduce tariffs on 90% of goods traded between the two blocs.
The U.S. JOLTS report has been delayed due to the government shutdown disrupting the economic indicators schedule.

Dollar Slides in Brazil amid Interest Rate Cut Hint and Industrial Production Decline

The dollar began Tuesday’s session down 0.27%, trading at R$5.2415. Brazil’s Ibovespa stock index opened at 10 a.m. In Brazil, investors reviewed the minutes from the latest Monetary Policy Committee (Copom) meeting, released today. The minutes revealed the Central Bank considered hinting at the start of an interest rate cut cycle in March, after holding the Selic rate steady at 15% for five consecutive months. In related news, industrial production in Brazil decreased by 1.2% in December compared to November. This represents the largest monthly decline since July 2024, exceeding expert predictions of a 0.8% drop. Separately, Brazil’s presidential palace submitted the Mercosur-EU trade agreement, signed last month in Paraguay, to Congress. The treaty aims to gradually eliminate or reduce tariffs on approximately 90% of goods traded between the two blocs. The U.S. Job Openings and Labor Turnover Survey (JOLTS) has been delayed due to the government shutdown disrupting the economic indicators schedule.

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