FX.co ★ Ibovespa Edges Lower on Monday

On Monday, the Ibovespa Index hovered just below the flatline, settling around the 135,300 mark. The performance remained close to September highs, largely influenced by declines in commodity prices and heightened uncertainty in trade policy. Oil prices decreased following the OPEC+ decision to accelerate supply increases, leading to approximately a 1% reduction in the market value of Petrobras. Additionally, the steepening of the DI curve indicated market anticipation of a 25-basis-point hike in the Selic rate during Wednesday's Copom meeting, exerting additional pressure on risk assets. Further contributing to market concerns was President Trump's unexpected announcement of a 100% tariff on films imported from outside the U.S., raising fears of broader trade repercussions potentially weakening global commodity demand. Nevertheless, the market received some support from gains in major banking stocks, with Banco do Brasil and Santander both experiencing rises exceeding 1.5%.