He The US dollar recovers ground this Friday after the sharp fall suffered yesterday against the Colombian pesowhich took it to two-week lows of 4,294.01.
USD/COP is now trading above 4,342.71, gaining 0.47% daily.
Focus on inflation in Colombia
- USD/COP traders will be awaiting the publication of Colombia’s inflation in the coming hours, which is expected to moderate to 5.71% annually in October from 5.81% in September.
- The United States has published consumer sentiment from the University of Michigan, showing a rise to 73 points in the preliminary reading for November from 70.5 in October, surpassing the 71 estimates. This is the best figure obtained by the indicator in seven months.
economic indicator
Consumer Price Index (YoY)
The Consumer Price Index (CPI) is published by the National Administrative Department of Statistics (DANE) of Colombia, measures the variation in the price of goods and services representative of family consumption. It is a way to measure changes in consumption and inflation trends. Readings above expectations could be interpreted (taking into account the potential impact on monetary policy) as positive for the Colombian peso (COP), while readings lower than expected as negative for the Colombian currency.
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.
