FX.co ★ Ibovespa Holds Above 139,000 Ahead of Jobs and Debt Data

On Wednesday, the Ibovespa hovered around the 139,000 mark, maintaining its position from the previous day's close, as investors awaited new developments to gauge the Brazilian economy's trajectory. Key indicators on the horizon include April's labor market data, anticipated to reveal the creation of 175,000 new jobs and a decline in the unemployment rate, as well as the upcoming monthly debt report. This report will be closely examined for any fiscal pressures influencing Brazil's bond market. According to a Reuters poll, the index is projected to climb to 147,500 by the end of the year, bolstered by the real estate and services sectors, despite a backdrop of slowing economic growth. Market gains are also anticipated from prominent companies like Itaú and those addressing the growing demand for tailored services, such as Smartfit, Espaço Laser, and Localiza, which showed mixed trading performance. Equities received a boost from the previous day's soft inflation data, fueling optimism for potential monetary policy easing in the second half of the year. Concurrently, business organizations are advocating for a complete reversal of the increased financial transaction tax. The B3 volatility index experienced a rise of 2.9%, reaching 16.32 points.