FX.co ★ Ibovespa Advances for 2nd Session

The Ibovespa index climbed approximately 0.5%, surpassing the 132,500 mark on Wednesday, as investors drew some optimism from recent U.S. trade policy developments. Signs that not all scheduled tariffs will be enforced on April 2nd, along with potential exemptions for certain countries, have alleviated some anxiety regarding impending tariff actions. This is despite President Trump imposing additional tariffs of 25% on nations purchasing oil or gas from Venezuela. On the home front, Brazil's government has decided against introducing a tax on big tech companies to prevent escalating tensions with Washington, showcasing a more pragmatic economic approach. Further bolstering the market, construction sector confidence has risen to 95 points for the first time since 2025, and the Central Bank announced a current account deficit of US$8.8 billion in February, which was better than anticipated. Moreover, projections of lower future interest rates have buoyed rate-sensitive sectors, with Petrobras, Vale, and major banks posting moderate gains, contributing to the index’s upward momentum.