This Monday, The dollar closed at $4,550.53 on average, which meant a decrease of $81.11 compared to the Representative Market Rate, which for today was $4,631.64.
The opening price recorded by the Set-FX platform is $4,570. The maximum value was $4,579 and the minimum was $4,520. More than US$876.4 million was traded through 1,363 transactions.
The dollar remains near nine-month lows against the euro and a group of other currenciesafter a host of Federal Reserve officials made the case for a downward shift in the US central bank’s rate-tightening campaign, while concerns about a possible economic downturn weighed on the Actions.
Investors are increasingly contrasting the US outlook with a relatively rosier outlook for Europe, which many believe will steer clear of recession this year.
Forecasts of a US recession in the second half of 2023, ongoing disputes in Congress over the debt ceiling and signals from companies weighed on stock index futureswhich struggled to ride Friday’s momentum that lifted the S&P 500 after four days of losses.
“The market has been offloading dollars, reflecting the view that the Fed will cut rates at the end of the year”Rabobank’s Jane Foley told Bloomberg.
The barrel of Brent oil, the reference for Colombia, rose 1.04% to US$88.54; while WTI rose 0.62% to US$82.15.
Oil prices extended last week’s gains on a more favorable outlook due to an economic recovery expected this year in Chinathe world’s leading oil importer.
Last week, Brent rose 2.8%, while the US benchmark registered an advance of 1.8%.
The director of the International Energy Agency, Fatih Birol, said on Friday that energy markets could tighten this year if the Chinese economy picks up as financial institutions expect.
“I wouldn’t be too relaxed about the markets, and 2023 may be a year where we see markets more tense than some colleagues may think.Birol told Archyde.com, speaking on the sidelines of the World Economic Forum’s annual meeting in Davos.