Stock market rises, dollar falls, and Brazil negotiates tariffs with the US.

Stock market hits new record and dollar falls.

The Ibovespa, the main index of the Brazilian stock exchange, closed on Thursday (13) at 157,162 points, falling 0.30% on the day, but remaining close to the historical record. The accumulated increase in 2025 already reaches 29,08%, the largest since 2019, according to data from B3 and Reuters.

In the currency market, the commercial dollar closed at R$ 5.2975, up 0.10% on the day, but still down 14.12% for the year. The market is closely monitoring the Copom minutes and October's inflation figures, which may indicate the start of Selic rate cuts as early as January.

Retail trade shows mixed signs.

The IBGE's Monthly Trade Survey (PMC), released this Thursday, showed growth of 0.3% in restricted retail sales in September, but a decline in 15 of the 27 states. Tocantins led the increases (3.2%), while Maranhão and Roraima had the largest declines.

Brazil and the US make progress in tariff negotiations.

Brazilian Foreign Minister Mauro Vieira met with U.S. Secretary of State Marco Rubio in Niagara Falls during the G7 summit. The focus was on progress in negotiations regarding trade tariffs, following Brazil's formal proposal submitted to the U.S. on November 4th.

The Brazilian government has expanded access to the Sovereign Brazil Plan, a program to support companies affected by US tariffs. The new decree reduced the minimum export impact required to apply for financing from 5% to 1%.

Impacts and positions of the parties

• Sectors such as coffee and automotive are feeling the direct impact of US tariffs.
• Companies now have easier access to credit lines, expanding the program's reach.
• Investors are awaiting clear signals regarding interest rate cuts and the progress of trade negotiations.

Photo by Jacky Watt on Unsplash