The US dollar has surged higher against the Colombian peso as the likelihood of a delay in interest rate cuts by the US Federal Reserve (Fed) increases. He USD/COP has reached a new ten-day high today at 3,875.15 after hitting a daily low at 3,827.47.
At the time of writing, the USD/COP is trading this Friday, April 12, above 3,860.00, gaining 0.94% daily.
The Colombian Peso closes the week with losses against a Dollar driven by US inflation.
- The US dollar (USD) has gained strength against the rest of its currencies in a week marked by US inflation figures, which, being higher than expected, increased expectations of a delay in interest rate cuts. Fed interest.
- CME Group's FedWatch tool now rules out the options of a first Fed rate cut in June (23.4%). The chances of a cut at the July Fed meeting are 42.7% while the chances of it happening at the September announcement rise to 44.7%.
- On Monday, April 15, CColombia will publish its industrial production and retail sales data for February after both data recorded falls in January.
economic indicator
Retail sales (YoY)
The retail sales published by the National Administrative Department of Statistics (DANE) measures the total revenue of retail stores. Monthly changes reflect the speed of changes in those sales. Changes in retail sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive, or bullish for the Colombian peso, while a low reading is seen as negative or pessimistic.
Why is it important for operators?
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
