He The price of the dollar in Colombia is trading at the time of writing around 3,934.00gaining 0.10% on the day.
USD/COP has fallen to a three-day low of 3,929.10 at the open on Wednesday, rising shortly after to a daily high of 3,941.49, although it has not maintained the momentum.
The dollar pending Colombia's employment data for Thursday
The United States today published the preliminary Gross Domestic Product (GDP) for the fourth quarter of 2023. The growth of the US economy has moderated to 3.2% from the 3.3% expected in the first estimate, disappointing expectations.
The Dollar Index has fallen after the GDP data, falling to around 104.00 after rising in the European morning to 104.24, its highest level in eight days, driven by risk aversion sentiment and confidence in the delay of Fed rate cuts at least through June.
The CME Group's FedWatch tool does not foresee a first interest rate cut by the Fed until at least June, when it places the chances of a cut at 53.2%.
The market focus will be on the US data due out on Thursday and Friday as it will move the dollar pairs. Tomorrow inflation will be announced PCE in January, which is expected to rise 0.4% monthly compared to 0.2% in December. Friday will be focused on the February ISM Manufacturing PMI.
Colombia will publish its unemployment rate for January this Thursday, after unemployment rose to 10% in December, its highest level in seven months.
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.
