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European stock markets and US futures are trading lower this Tuesday morning, the 17th. The Central Bank tried hard, but the commercial dollar continued to climb in recent weeks and hit a new nominal record last Monday, when it closed at 6.09 reais. The Ibovespa reached its lowest value in six months. The Central Bank held the largest spot auction of dollars since 2020, offering 1.6 billion dollars to the market. Another 3 billion dollars were also auctioned in the form of a line, with a commitment to repurchase in March 2025. Despite the mega-operation, the dollar has not stopped rising. The government is racing against time to approve the regulation of the tax reform and the package of spending cuts this week — the last week before the parliamentary recess. To make matters worse, the president-elect of the United States, Donald Trump, cited Brazil and India as countries that “tax too much” and threatened to increase US tariffs on these countries. The National Treasury updated its estimates for public accounts and projects that Brazil's primary balance in 2024 will be negative by 0.6%. The country would only return to a surplus in mid-2027. On Tuesday, the Central Bank published the minutes of the Copom meeting. It is the last message from the committee under the leadership of Roberto Campos Neto, who will step down as president of the Central Bank at the end of the year and Gabriel Galípolo will take over the position in January 2025. Diego Gimenes interviews Carlos Kawall, partner-owner of Oriz Partners and former secretary of the National Treasury. VEJA Mercado is broadcast live from Monday to Friday on YouTube, Facebook, Twitter, LinkedIn and VEJA+, starting at 10 am. Offered by JHSF —————————————————————————— Subscribe to VEJA: https://abr.ai/2VZw8dN Check out the latest news about Brazil and the world: https://veja.abril.com.br/ FOLLOW VEJA ON SOCIAL MEDIA: Instagram: / vejanoinsta Facebook: / veja X: http://x.com/VEJA Telegram: http://t.me/vejaoficial Linkedin: / veja-com