The week begins with renewed tensions in the Middle East. After negotiations between the United States and Iran in Pakistan ended without agreement on Saturday, U.S. President Donald Trump announced on Sunday, the 12th, that the U.S. Navy will begin a total blockade of the Strait of Hormuz. Iran’s Revolutionary Guard stated that any attempt by military vessels to approach the Strait will be considered a violation of the ceasefire and will be dealt with severely.
Analysts are paying close attention to the developments of these events, which impact the price of oil and pressure interest rates and inflation worldwide. At 8:20 PM on Sunday, Brent crude was up 8%, quoted at 103.2 dollars per barrel.
The war in the Middle East is expected to dominate discussions at the IMF and World Bank meetings in Washington this week. The meetings will take place from April 13 to 18 and will include the attendance of finance chiefs from around the world.
The market is reacting to the latest Datafolha poll, which showed that President Lula (PT) lost part of his lead in a potential second-round election this year. According to the survey, Flávio Bolsonaro (PL) numerically surpassed Lula for the first time, reaching 46% against the leftist candidate’s 45%.
Also on the market’s radar is the release of the Central Bank’s Economic Activity Index (IBC-Br). It will be on Thursday, the 16th, at 9 AM. This index is considered a preview of GDP.
Still in Brazil, retail sales data for February will also be highlighted on Wednesday. The figures will be published at 9 AM.
At 11 PM on Wednesday, China will release its first-quarter Gross Domestic Product (GDP), as well as industrial production, retail sales, and the March unemployment rate. These figures are important for analysts to assess how heated the Asian giant’s economy is.
According to Valor Econômico, the government of Minas Gerais plans to launch the privatization of Copasa this week in an attempt to make the schedule viable for pricing the shares by the end of this month, or early May at the latest.
Romi (ROMI3) opens the first-quarter (1Q26) earnings season on Tuesday, the 14th, after the market closes. The earnings conference call will be on the 15th at 11 AM.
Eztec (EZTC3) reported that in the first quarter of 2026 (1Q26), it achieved the highest quarterly launch volume in its history. The total launches in General Sales Value (GSV) amounted to 924.7 million reais, an increase of 50.1% compared to the first quarter of 2025 (1Q25). Net sales totaled 696.8 million reais in 1Q26, growth of 84.8% on an annual comparison basis.
Also on Friday the 10th, Eztec announced the launch of the Casa Nacional development, 400 meters from the Morumbi Shopping mall in São Paulo. The General Sales Value for Eztec is 396.7 million reais. There are 188 units.
The risk rating agency Fitch affirmed the long-term foreign and local currency Issuer Default Ratings (IDRs) of Engie Brasil (EGIE3) at ‘BB+’ and ‘BBB-‘, respectively. The agency also affirmed the company’s long-term national rating of ‘AAA(bra)’ and that of its unsecured senior debenture issuances. The outlook for the corporate ratings is “stable”.
According to the agency, Engie Brasil’s ratings reflect its history of strong operating cash flow generation, a solid financial profile, adequate leverage, and strong financial flexibility. The company is the second-largest electricity generator in Brazil, with a broad and diversified asset base and high operational efficiency, its analysts comment. Fitch believes Engie Brasil has good capacity to manage its high investment plan, despite high interest rates, hydrologic conditions below expectations, and generation curtailment recorded in the generation segment. The Foreign Currency IDR is limited by Brazil’s Country Ceiling of ‘BB+’.
The board of directors of Banco Santander Brasil (SANB11), in a meeting held on Friday, the 10th, approved the distribution of interest on equity. The gross amount is 2 billion reais. After deducting the amount related to Income Tax Withheld at Source, the net amount is 1.650 billion reais. The net amount per SANB11 unit is 0.44112818987 reais. The amount per preferred share (PN) is 0.23106714708 reais; and per common share (ON) is 0.21006104279 reais.
Those registered in the company’s records at the end of the day on April 20, 2026 (inclusive) will be entitled. Thus, from April 22 (inclusive), the shares will trade “ex-JCP”. Payment will be from May 7, 2026.
The ordinary and extraordinary general meeting of Elektro Redes (EKTR4) held on Friday, April 10, approved the declaration of the proposed additional dividends, in the amount of 195,575,673.05 reais. This amount corresponds to 0.9589529761 reais per ordinary share and 1.0548482737 reais per preferred share. Dividend payment will be made by December 31, 2026, without monetary adjustment, based on the shareholding position of April 10, 2026. From April 13, 2026, the shares will trade ex-dividends.
The reign of the dollar, established after World War II with the Bretton Woods Agreement, is facing one of its most challenging periods. The spot dollar closed down 1.03% at 5.010 reais on Friday the 10th. This is the lowest closing value since April 9, 2024. For the week, the dollar accumulated a drop of 2.9%. For the year, it accumulates a loss of 8.7%.
For economist Charles Mendlowicz, partner at Ticker Wealth and founder of the Economista Sincero channel, the phenomenon is not just a momentary fluctuation but the reflection of a system suffering from accumulated “rust” and “wear”, especially after the end of gold convertibility in 1971.
Mendlowicz explains that the dollar’s dominance was built on the destruction of European and Asian economies after the war, while the United States kept its infrastructure intact and had large gold reserves. “The dollar became king because the world came out destroyed from World War II, but the United States did not,” the economist states.
However, the change in the American stance (from exporter of goods to exporter of dollars) compromised the economic morality of the system, as Mendlowicz explains: “The Americans started producing money and not goods. While gold convertibility existed, everything was fine, it was a relatively positive gear for everyone. Until they turned on the printer.”
The current dedollarization movement is driven by the use of the currency as a geopolitical weapon, through sanctions and the freezing of international reserves. This has led nations, especially BRICS countries, to seek alternatives.
According to data from the Central Bank, released in October 2025, Brazil reduced its dollar reserves by about 12%, increasing exposure to gold and the Chinese yuan. China, in turn, completed 17 consecutive months of gold purchases in April, according to information from the country’s central bank.
“I think countries are opening their minds a little. It doesn’t mean the dollar will end overnight. The movement is slow and gradual,” analyzes the Economista Sincero. For him, although the dollar loses relative strength, its total hegemony is unlikely to fall in the next two decades due to the lack of a single, transparent alternative.
In Mendlowicz’s view, the partial replacement of the dollar will not come from another state currency, like the yuan, but from scarce assets: “I think people have already chosen gold and investors, Bitcoin, for this task of partly replacing the dollar.” The economist explains that, in the short term, dollar weakness benefits the domestic scenario. “A weaker dollar in Brazil helps to hold down inflation. However, there is…
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