He Price of the Dollar against the Colombian Peso has fallen this Thursday to 3,772.78, its lowest level since January 22. USD/COP has fallen after opening the day around 3,811.83.
USD/COP is trading at 3,792.25 at the time of writing, losing 0.51% on the day.
The weakening of the Dollar favors the Colombian Peso
- The dollar has weakened across the forex board after the disappointing ISM services PMI data published yesterday and from the words of the speech of Jerome Powell, president of the Fed, who said that if the economy evolves as it has until now, all members of the entity see it likely to start cutting rates at some point in the year.
- The pair's operators will now be awaiting the US Non-Farm Payrolls data that will be published tomorrow, Friday, as it could cause new movements in the Dollar. The market expects 200,000 new jobs compared to 275,000 the previous month.
- Subsequently, Colombia will publish inflation data for the month of March. In February, the Colombian CPI grew at an interannual rate of 7.74%, its lowest level since January 2022.
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.
