The premise around the value of the dollar is that the more greenbacks circulating in the country, the lower their value, so what happens with the FED will be crucial. Reference image.
Photo: Bloomberg Agency
The dollar’s movement during the first two weeks of 2024 has left the currency in the $3,900 region, with several pesos above this figure. At its last close, last Wednesday, January 10, the currency closed at $3,934.
This Thursday, it closed on the dollar $3,927, which translates into a slight decrease of $7 compared to Wednesday’s price. On a day marked by the release of annual inflation data across states, the currency recorded an average price of $3,929.86, with a maximum of $3,949.
For its part, the Representative market rate (TRM), set by the Financial Superintendent of Colombia for this Thursday, January 11, is $3,946.39. This is $12.26 more than the previous day. Additionally, the current TRM has reached its highest level in more than three weeks (since December 21), however, it is $861.46 lower than a year ago (January 11, 2023).
First among the international factors affecting the dollar price this week will be inflation in the United States. This Thursday, the United States Bureau of Labor Statistics released the most recent inflation figures for that country.
The entity reported that inflation in the United States stopped at 2023 3.4%. In December last year, inflation rose three-tenths over the same month in 2022. The United States Bureau of Labor Statistics indicated that prices have been falling year-over-year (2022 vs. 2023) since October, so the latest inflation data broke the downward trend.
For its part, core inflation (the key gauge for the Federal Reserve’s decisions on interest rates, as it excludes the most volatile variables, such as food and energy prices) has fallen by a tenth from December 2022 and has fallen annually since March. has been
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Similarly, signals issued by the United States Federal Reserve (FED) regarding monetary policy and interest rates are felt in the price of the dollar. New York Fed President John Williams said current monetary policy was tight enough to guide inflation back to the 2% target, but more evidence would be needed before any rate cuts.
The premise of the value of the dollar is that the more greenbacks there are in circulation, the lower their value, so what happens to the dollar? Fed
will be decisive. For this year, the dollar is expected to remain relatively low, below the $4,000 barrier. It is likely, according to experts, that the $3,800 threshold will be reached again. However, all these predictions are subject to the extent to which the world has noted variables that could affect the shortage, such as the escalation of conflict on the Ukraine and Gaza border, in addition to other geopolitical tensions. and commercial.💰📈💱 Have you already heard the latest news? economic? We invite you to see them in El Espectador.
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