FX.co ★ Ibovespa Rises Ahead of Copom and Fed Decisions

The Ibovespa index increased by 0.6% on Tuesday, surpassing the 144,000 mark and continuing its record-breaking ascent as the Central Bank's Monetary Policy Committee (Copom) commenced its meeting. It is broadly anticipated that the Selic rate will remain steady at 15% following the conclusion of the meeting on Wednesday. On the domestic economic data front, Brazil's unemployment rate dropped to 5.6% for the quarter ending in July, marking the lowest level since 2012 and aligning with the lower end of market expectations. In the United States, the Federal Reserve is set to announce its rate decision on Wednesday, with market participants fully expecting a 25 basis point reduction, adjusting the range to 4.00%–4.25% due to labor market softness and moderate inflationary pressures. In the equities market, shares of Petrobras climbed by 0.4%, Vale added 0.6%, Azul rose by 2.2%, and Minerva increased by 2.9%, while Casas Bahia saw a surge of over 6%.