He Colombian peso records profits for the seventh consecutive day this Thursdayreaching new maximums since April 4.
The USD/COP extends Wednesday’s losses, going back from a daily maximum in 4,206.75 to a minimum of six weeks at 4,161.34. At the time of writing, the par quotes about 4,163.75, losing a relevant 1.02% in what we have been working on.
Focus in Colombia’s GDP after a strong increase in retail sales
- The Colombian peso increase continues to be in the differential between Colombia’s inflation and the United States inflation. While the first rose more than expected in April, the second was moderated below.
- Added to this, The data published yesterday of retail sales also reinforced the COP. The indicator grew by 12.7% per year in March, significantly exceeding the increase of 7.5% of February and the rise of 9.8% expected by the market consensus. Retail sales rose for the tenth consecutive month, registering their greater increase since June 2022.
- Colombia also published its figures yesterday industrial production, which grew 1.6% year -on -year In March after descending 1.2% the previous month. The rise practically reached 1.7% estimated by experts.
- Today the focus will be in the Gross Domestic Product (GDP) of the first quarter. The Colombian economy is expected to grow 2.5% between January and March 2025, exceeding 2.3% of the last quarter of 2024.
- The United States has revealed today that production prices fell 0.5% monthly in Aprilstanding well below the increase of 0.2% planned. Excluding food and energy, the production price index decreased 0.4% compared to +0.3% estimated. This decrease in production prices inflation has weakened the dollar, promoting COP.
Economic indicator
Gross Domestic Product (Yoy)
The internal gross product (GDP), published by the Bank of the Republic of Colombiait is the broader measure of economic activity, and is a key indicator of Colombia’s economic health. The quarterly percentage changes of GDP show the growth rate of the total economy. Readings above the expected should be interpreted as positive/up for the COP, while the less expected readings should be interpreted as negative/down for the COP.
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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.
