He US dollar falls for the third consecutive day against the Colombian peso this Wednesday, arriving at his lowest price since October 23, 2024.
USD/COP has fallen after the US inflation data to a twelve-week low at 4,274.35. Previously, the pair had tested a daily high at 4,294.49.
At the time of writing, the price of USD/COP is trading above 4.286, losing a slight 0.02% so far this day.
US Consumer Price Index (CPI) presents mixed results
- General inflation in the United States grew at a rate of 2.9% year-on-year in December after rising 2.7% in November, in line with expectations. On a monthly basis, the indicator increased by 0.4%, above the previous and expected 0.3%.
- The core CPI, which excludes food and energy, moderated its growth to 3.2% from the previous 3.3%, softening the forecasts of permanence at 3.3% projected by the market consensus.
- In the absence of the publication of relevant data in Colombia, the focus for operators now turns to the comments of the members of the US Federal Reserve who will speak later in the American session. Neel Kashkari, president of the Minneapolis Fed, will participate in the ‘2025 Regional Economic Conditions Conference’ organized by the Minneapolis Federal Reserve itself. Finally, John Williams, president of the New York Fed, will deliver a keynote address at an event hosted by the Connecticut Business and Industrial Association.
economic indicator
Consumer Price Index (YoY)
The CPI is published on US Labor Department and measures price movements through the comparison between retail prices of a representative basket of goods and services. The purchasing power of the dollar is diminished due to inflation. The CPI is a key indicator for measuring inflation and purchasing trends. A reading above expectations is bullish for the dollar, while a reading below is bearish.
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Last post: Wed Jan 15, 2025 1:30 p.m.
Frequency: Monthly
Current: 2.9%
Dear: 2.9%
Previous: 2.7%
Fountain: US Bureau of Labor Statistics
The US Federal Reserve has a dual mandate of maintaining price stability and maximum employment. According to such mandate, inflation should be at around 2% YoY and has become the weakest pillar of the central bank’s directive ever since the world suffered a pandemic, which extends to these days. Price pressures keep rising amid supply-chain issues and bottlenecks, with the Consumer Price Index (CPI) hanging at multi-decade highs. The Fed has already taken measures to tame inflation and is expected to maintain an aggressive stance in the foreseeable future.
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.
