Market operates influenced by Brazilian GDP preview and US retail data

The markets operate this Wednesday (16) with an eye on economic data, such as the preview of the Brazilian GDP.

Overseas, American futures open in a slight decline. Investors are cautious about the retail data coming out later today and also fears about higher inflation and interest rates weighing on the market.

Also in the United States, the American President, Joe Biden, signed the infrastructure package of more than US$ 1 trillion. Despite meaning more money in the economy and pleasing the market, the news was already in the price.

Another highlight is the meeting between Biden and Xi Jinping, president of China. It was the closest communication between the two leaders since Biden took office in January. The two made public statements, citing ways to avoid conflict but noting points of tension. With the cautious mood at the meeting, Asian indices closed in a mixed direction.

In Europe, the indexes go up with data of retreat of the unemployment rate in the United Kingdom and with Christine Lagarde, of the European Central Bank, saying that she doesn’t see the necessary conditions for high interest rates being reached in 2022.

Brazil

On the national scene, emphasis is placed on the president of the Central Bank, Roberto Campos Neto, who has just spoken in Portugal that the government should “signify some cuts in spending” and signal with structural reforms.

Analysts estimate that Campos Neto says he is doing his part, containing interest in a scenario of high inflation here and abroad. Others even see that he is trying to make a speech minimizing the economic situation.

The Economic Activity Index (IBC-Br) was also released, which is like a preview of GDP. GDP is quarterly and released by the IBGE, while the and the IBC-Br is monthly and released by the Central Bank. The data shows that the economy fell 0.27% in September. The result was already expected after the negative data from industry, trade and services, and should generate a wave of revisions in GDP.

In politics, senator Fernando Bezerra (MDB-PE), government leader and rapporteur for the PEC dos Precatórios, is meeting today with senators to discuss the approval of the proposal in the House.