The USD/COP is trading today, Tuesday, April 2, above 3,864.76, gaining 0.06% daily.
The price of the US dollar against the Colombian peso staged a significant initial rise this Tuesday, reaching daily highs at 3,878.07, although it subsequently lost momentum and tested a daily low at 3,863.47.
What will move the price of the Colombian Peso this week?
- The good data from the US ISM Manufacturing PMI caused the USD/COP to reach multi-day highs of 3.875 yesterday Monday. The indicator registered a rise to 50.3 points in March from 47.8 in February, improving the 48.4 expected by the market. This was the first time in seventeen months that the ISM manufacturing was in expansion territory, above 50 points.
- US ADP private employment data for March and Non-Farm Payrolls (NFP) for the same month will determine the direction of the Dollar against its rivals later in the week. The US is expected to have created 130,000 private jobs in March, down from 140,000 in February. Regarding the NFP, 200,000 new jobs are estimated compared to 275,000 the previous month.
- The first week of April will end with the publication of data from Colombian inflation for the month of March. In February, the Colombian CPI grew at an interannual rate of 7.74%, its lowest level since January 2022.
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.
