The dollar closed higher this Tuesday, after having a slight decrease on Monday. The market is awaiting the Federal Reserve’s monetary policy review tomorrow, as talks between Israel and Hamas continue to have an impact on oil prices.
The currency closed this Tuesday at an average price of $3,898.90, placing it $25.46 above the TRM, which for today is $3,873.44. In addition, the currency reached a maximum price of $3,927 and a minimum price of $3,872 during the day. 2,577 movements were carried out for an amount of US$1,441 million.
International markets are in a waiting phase ahead of the next decision from the Federal Reserve, with investors showing caution over the possibility that the president of the central bank, Jerome Powell, adopts a more restrictive stance during the meeting.
Stocks halted their advance, while S&P 500 futures showed little movement. Treasuries were little changed ahead of the release of U.S. data on wages and confidence later in the day.
Today it is also expected that the Bank of the Republic of Colombia will choose to resist pressure from the Government to accelerate the cuts. According to a survey of 21 economists by Bloomberg, the monetary authority is expected to reduce the interest rate by half a percentage point, to 11.75%.
Despite the cuts made in December, January and March, Colombia maintains the highest interest rates among the main Latin American economies with inflation targets. Leonardo Villar, general manager of the Issuer, mentioned this month that the Bank of the Republic intends to adjust monetary policy at a pace that does not take investors by surprise.
How are oil prices today?
Oil prices rose after falling yesterday, boosted by negotiations between Israel and Hamas that offered hope for a ceasefire, although Houthi attacks in the Red Sea persisted.. This occurred while investors awaited the Federal Reserve’s decision on interest rates scheduled for Wednesday, according to Reuters.
Brent crude oil futures for June, which expire during the day, increased by 26 cents, equivalent to 0.3%, reaching US$88.67 a barrel. For its part, the July contract, with greater activity, registered an increase of 38 cents, or 0.4%, reaching US$87.58.
U.S. West Texas Intermediate (WTI) futures also showed gains, rising 34 cents, or 0.4%, to $82.97 per barrel.. Front-month contracts for both benchmarks saw losses of more than 1% on Monday.
