Dollar closed the day with a $ 4.35 drop due to U.S. inflation data

The dollar closed at $ 3830.92 on average, representing a drop of $ 4.35 against the Representative Market Rate (TRM), which for today stood at $ 3,835.27.

The opening price recorded by the platform was $ 3,817. The high reached $ 3,836.85 and the low at $ 3,815. US $ 1,053 million was traded on the day through 1,619 transactions.

In the U.S. market, U.S. futures rose and the dollar weakened after data showed consumer prices rose less than forecast in August, suggesting that part of the upward pressure on inflation is beginning to decline.

S&P 500 futures rose with the Department of Labor report that consumer prices rose 0.3% since July. Economists demanded a gain of 0.4%.

“The instinctive reaction is positive and will fuel a chorus of conversations about‘ inflation has reached its peak, ’” Adam Crisafulli, founder of Vital Knowledge, wrote in a note, quoted by Bloomberg. “We believe it has in fact reached its peak, but this is not a reason to buy stocks (at least not right now): inflation remains high in absolute terms, the Fed will continue to decline and the market has a multitude of ‘other macroeconomic winds against resolve. “

Crude touched a maximum six weeks on Tuesday, at a time when another hurricane threatens to bring heavy rains to Texas and parts of Louisiana that are still recovering from Ida, and while the International Energy Agency (IEA) predicted a major rebound demand for the rest of the year.

U.S. crude WTI rose to $ 70.44 a barrel, while Brent oil reached $ 73.62.

Evacuations of offshore oil rigs in the Gulf of Mexico began on Monday, in preparation for the arrival of Hurricane Nicholas.

“Significant production cuts in the Gulf of Mexico remain one of the factors driving prices,” Commerzbank said.

About 794,000 barrels per day (bpd), or more than 40 percent of Gulf of Mexico’s crude oil and gas production, were suspended on Monday, two weeks after Ida hit the Louisiana coast, according to the Office of Compliance. Safety and environment.

After a three-month decline in global oil demand, vaccination against covid-19 is rushing to revive the appetite for crude oil, which was suppressed by pandemic restrictions especially in Asia, the IEA said Tuesday.

These forecasts are well below those of the Organization of the Petroleum Exporting Countries (OPEC), which expect growth in demand of about 5,960,000 bpd this year and 4.15 million bpd next. .

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