Price of the dollar closed higher this Thursday in Colombia

Price of the dollar closed higher this Thursday in Colombia
Price of the dollar closed higher this Thursday in Colombia

02:19 PM

For Thursday’s day, the currency closed at $3,829.12 on average, $3.7 above the TRM, which today is at $3,825.42. This comes after statements this week by the president of the Federal Reserve, Jerome Powell, and the inflation data in the United States at the end of April was 3.4%.

During the day 2,116 transactions were carried out for an amount of US$1,251 million. The currency reached a maximum price of $3,840 and a minimum of $3,819

According to Bloomberg, looking at the data, stock market bulls will expect the Jobless claims give an indication of sluggishness in the labor market that gives the Federal Reserve room to make monetary policy more flexible. Several central bank officials will also speak today. According to futures markets, investors are currently expecting around two rate cuts this year.

The operators were also attentive to the indications from European Central Bank spokespersons on whether interest rates They could begin to fall next month. So far, swap contracts have almost completely priced in the probability of three cuts in 2024.

The Brent crude oil futures were stable on Thursday, driven by signs of stronger demand in the United States following slower-than-expected inflation in April and the reduction in oil inventories last week.

The futures of Brent rose 0.05%, to US$82.79 a barrel, while West Texas Intermediate in the United States (WTI) rose 0.08%, to US$78.69.

According to Reuters, the US inventories of crude oil, gasoline and distillates fell, reflecting an increase in both refining activity and fuel demand, data from the Energy Information Administration, EIA, showed.

The crude oil inventories fell by 2.5 million barrels to 457 million barrels in the week ended May 10, according to the EIA, compared to the 543,000 barrels expected by the consensus of analysts in a Reuters poll.

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