Dollar reverses and starts to fall, with an eye on oil and tensions in the Middle East

Understand what makes the price of the dollar rise or fall
The dollar reversed the positive signal seen in the first hour of trading and began to fall this Wednesday (8), with a decline of 0.14% close to 10 am, quoted at R$ 5.1448. Ibovespa, the main index on the Brazilian stock exchange, was in a practically stable decline at the same time, at 172,016 points.
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▶ The new escalation of tensions in the Middle East takes center stage this Wednesday. On Monday (6), two commercial ships and an oil tanker were hit by missiles in the Strait of Hormuz region, according to the British maritime agency UKMTO. According to the American website Axios, the bombing was carried out by Iran. In response, the United States attacked more than 80 military targets in the country.
The attacks once again raise questions about the effectiveness of the ceasefire agreed between Washington and Tehran and increase concerns about a new interruption in traffic through the Strait, affecting oil prices. (understand more below)
▶ On the economic agenda, the highlight is the minutes of the last interest rate meeting of the Federal Open Market Committee (Fomc), of the Federal Reserve (Fed, the American central bank). The document, scheduled to be released in the afternoon, should bring clearer signals about the interest rate policy of the institution's new president, Kevin Warsh.
See below more details of the day in the market.
Dollar

a
Accumulated for the week: -0.31%;
Accumulated for the month: -0.21%;
Accumulated for the year: -6.13%.
Ibovespa

Accumulated for the week: -1.18%;
Accumulated for the month: +0.00%;
Accumulated for the year: +6.76%.
Tensions in the Middle East affect oil prices
The ceasefire agreed between the United States and Iran was once again in the spotlight, after two commercial ships and an oil tanker were hit by missiles in the Strait of Hormuz last Monday (6).
"A tanker reported having been hit by an unknown projectile on the port side, which caused a fire, while sailing towards the south", wrote the UKMTO in a statement.
After the attacks, American President Donald Trump stated that the peace agreement signed with Iran is "over" and that he no longer wants dialogue with Tehran. The speeches took place during an interview with journalists in Ankara, the capital of Turkey, before the North Atlantic Treaty Organization (NATO) summit.
"For me, I think [the peace agreement] is over. I don't want to deal with them [Iran] anymore. They are scum, they are led by sick people and they are an evil and violent people. (...) I will talk to my negotiators, but it is a waste of time dealing with them. As far as I know, it is over," said Trump when asked if the agreement would have "died".
On Tuesday (7), Iran's foreign minister, Abbas Araqchi, had already criticized Trump, stating that there would be no more peace negotiations unless the American leader ceased his threats to restart the war.
According to Araqchi, the statements violate the terms of the memorandum of understanding reached last month to suspend the war.
With the escalation of tensions, oil prices rose again this Wednesday. Around 9:10 am, a barrel of Brent, an international reference, rose 5.10%, quoted at US$77.94. West Texas Intermediate (WTI), from the USA, rose 4.94%, to US$ 73.92 a barrel.
Global markets
Amid tensions in the Middle East, Wall Street's main futures indexes were falling this Wednesday.
Close to 9am, Dow Jones futures fell 1.34%, while S&P 500 futures fell 1.06% and Nasdaq Composite futures fell 1.55%.
In Europe, the day was also negative for financial markets.

Among the main indices in the region, Germany's DAX lost 1.80% at the same time, while France's CAC-40 fell 1.75% and the United Kingdom's FTSE 100 fell 1.17%.
In Asia, stock markets closed mixed, still impacted by shares in the technology sector and awaiting the minutes of the latest Fed meeting. brings together the largest companies in Shanghai and Shenzen, fell 0.77%, while the Shanghai index, the SSEC, lost 0.49%.
In Japan, the Nikkei index fell 2.11%, while the Kospi, from South Korea, had a devaluation of 5.35% and the Hang Seng, from Hong Kong, rose 2.99%.
*With information from the news agency Reuters.
Real and dollar
Amanda Perobelli/ Reuters

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