After its maximum price exceeded $4,500 this Thursday, the dollar in Colombia deflated and was priced downwards on the day.
(Read: ‘They are cheap’: president of Ecopetrol proposed buyback of the company’s shares).
According to the Stock Exchange, The US currency closed this Thursday at an average price of $4,475That is, it lost 3 pesos compared to the TRM of the day, which was $4,478.
However, its maximum intraday trading price reached $4,505.
The behavior of the foreign currency is due to the most recent results of inflation in the United States and the boom and euphoria due to Donald Trump’s victory in the presidential elections.
In other markets, the New York Stock Exchange closed the previous day in mixed territory after the Bureau of Labor Statistics reported that the inflation rate rose two tenths in October in the US and stood at 2.6%. an increase that breaks the streak of six consecutive months of decline.
(Besides: Will Davivienda buy Scotiabank’s operations in Colombia? This is what is known).
The Federal Reserve (Fed) announced last week a drop in interest rates of a quarter point, the second consecutive drop since September, thus placing the reference rate in a range of 4.5% to 4.75%, as as the experts predicted. There are doubts whether he will lower it again at his next meeting in December.
“It’s time to stop worrying about the Federal Reserve and inflation”David Russell, global head of market strategy at TradeStation, told CNBC.
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“Stocks have been on autopilot since the election and today’s numbers don’t affect the trend at all. A (rate) cut is still on the cards in December.”he stated.
In other markets, the price of Texas Intermediate Oil (WTI) rose last day to $68.43 per barrel, the 10-year bond yield rose to 4.451%, gold fell to $2,580 per ounce and the euro fell. exchanged at $1.0565.
PORTFOLIO
With agency information
