Veto on Refis, employment in the US and readjustment of servers are the focus of the market

The financial market operates this Friday (7) with an eye on employment data in the United States and on the veto of Refis for small companies in Brazil

In the United States, if employment data come in better than expected, it could reinforce that the economy is strong, and the hike in interest rates in March can be taken for granted. In this case, stock exchanges can react with more fall.

If the result is weaker than expectations, it may open up scope for a softer stance by the American Central Bank, which this week signaled an increase in interest rates earlier than expected. The market expectation, according to the Reuters Agency, is the creation of 400 thousand job vacancies and 4.1% unemployment.

In Europe, stock exchanges operate stable or with a slight drop. Eurozone inflation has just come out, which rose 5% in December over the previous year, a record high, driven by energy prices. The data came in above expectations of 4.7% and should reinforce criticisms about the European Central Bank, which has been underestimating the rise in prices.

In Asia, exchanges closed mixed. In China, shares in developer Shimao fell more than 5% after a default, but construction companies rose after the government asked banks to increase lending to the real estate sector.

Brazil

Coming to Brazil, President Jair Bolsonaro (PL) vetoed Refis for small companies, due to lack of funds to compensate for the tax waiver.

Congress had approved the measure without indicating the compensation of debts, which total R$50 billion. The text provided for renegotiation with discounts and installments. Despite the president’s decision, congressmen join together to overturn the veto.

Investors are also keeping an eye on the pressure from servers for readjustments. With the delivery of leadership positions in revenue, the Board of Tax Appeals (Carf) suspended judgments on tax collection.

The pressures for readjustments and public spending as the elections approach, maintain the climate of caution in the market. Weak data such as the result of the industry does not help either. Thus, the Ibovespa remains sideways, without positive triggers to recover the losses of the last few days.

The Ibovespa Futuro rises 0.13%, to 102,600 points, and the dollar rises 0.08%, to R$ 5.68. THE S&P 500 Futures also rose slightly in the morning, up 0.19% to 4,705 points.

Agenda of the Day

The National Association of Automotive Vehicle Manufacturers (Anfavea), announces at 10 am, the production of vehicles. Nin the US, the long-awaited payroll data comes out at 10:30 am, and consumer credit data at 5 pm.