The Colombian Peso reached one-month highs yesterday, Monday, at 3,807.18, and this Tuesday it opened the day not far from this region. USD/COP rose to a daily high of 3,830.42 today and hit a bottom of 3,815.63.
At the time of writing, USD/COP is trading above 3,827.77, gaining 0.23% on the day.
Focus on Colombia's trade balance
- Yesterday Fedesarrollo published the Financial Opinion Survey, which pointed out that the Colombian economy is expected to grow 1.4% in 2024, improving the 1.3% projected a month ago. Regarding inflation, it is expected to reach 5.60% at the end of the year, above the 5.51% projected in April. Finally, the exchange rate of the Dollar with the Colombian Peso is expected to reach 4,000 at the end of 2024.
- Today Colombia will publish the data of March trade balance. In February, the data showed a deficit of 762.5M dollars.
- The Fed Minutes that will be published tomorrow, Wednesday, could determine the direction of the pair at the end of the week, as they can generate movements in the Dollar.
Economic indicator
Balance of trade
The trade balance, published by the National Administrative Department of Statistics (DANE)is the difference that exists between the total exports and imports of a country.
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.
