FX.co ★ Ibovespa Rises Before Powell Speech

The Ibovespa index advanced by 0.7% on Friday, moving closer to the 135,500 mark, reflecting trends in global markets. This rise came as investors anticipated Federal Reserve Chair Jerome Powell's address at the Jackson Hole symposium, hoping for insights into future U.S. monetary policy. Powell's commentary was particularly scrutinized in the context of criticism from President Trump, which has sparked concerns regarding the Fed's autonomy. Meanwhile, stronger U.S. producer price data for July have dampened expectations of a rate cut in September. On the domestic front, political developments and ongoing trade tensions with the U.S. continued to draw attention. Major financial institutions such as Itaú and Banco do Brasil posted gains, with the latter rising 1.2%. Mining giant Vale also saw a modest increase of 0.1%, as did retailers like Azza and Magazine Luiza, which rose by 0.3% and 1% respectively. Conversely, Petrobras experienced a decline of 1.2%.