Today’s Focus
B3 futures indicate a tentative opening on Wednesday with the real trading at a defensive 5.1629 per US dollar. The weaker currency, which makes imported goods pricier and complicates the central bank’s inflation battle, is the immediate focus for traders after the spot dollar jumped more than 1% in the previous session.
The morning’s main domestic catalyst is the June services-sector report at 9 am BRT. A flat prior reading of 0.4% year-on-year has left investors anxious for signs that consumer spending, a pillar of Brazil’s growth, can hold up as high interest rates bite.
A fresh profit print from exchange operator B3SA3, almost exactly matching LSEG-compiled estimates, will set the tone for financial-sector names. Meanwhile, Oi’s decision to delay multiple 2025 filings throws a shadow over the troubled telecom’s equity story.
Underneath it all, the Copom rate path hangs in the balance. With the US Federal Reserve’s next move uncertain and the real under pressure, local traders are pushing back expectations for any Selic cut this year, a repricing that has driven the Ibovespa more than 15% below its 52-week high.
