The price of dollar in Colombia closed this Tuesday, January 14, at an average price of $4,300after falling 31 pesos compared to the TRM of the day, which was $4,331.
(Read: The ‘short circuits’ of the Colombian electricity sector, according to S&P Global Ratings).
The foreign currency thus adds another day of losses, after sessions of great turmoil in the international markets, after oil reached a price of 81 dollars a barrel on Monday, its highest level in 4 months.
(Also: High cost of money has curbed Colombians’ demand for credit).
Now, investors are keeping an eye on the report. Wednesday’s consumer price index (CPI) to obtain information on the next movements of the Federal Reserve (Fed) regarding interest rates.
“If the report is too bullish, it could accelerate some of the recent selling pressure we’ve seen and weigh on stocks. However, a colder-than-expected result could trigger a relief rally.”said eToro US investment analyst Bret Kenwell about the upcoming CPI report.
(Here: Taxes: they suggest Colombia create a tax on undeclared wealth abroad).
Investors believe the Fed will hold rates steady after the two-day meeting later this month, with a probability of 97.3%, according to CME’s FedWatch tool.
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