2024-02-02 18:00:00
The price of the dollar closed below $4,000, while investors react to business results, payroll data in the United States and to the accounts presented by the Ministry of Finance in the 2024 Financial Plan.
The currency closed the day with an average price of $3,928.15, that is, $39.1 above the Representative Market Rate, which For today it is $3,889.05. Around 01:00 in the afternoon, the currency had a maximum of $3,942.75 and a minimum of $3,895.
The Minister of Finance, Ricardo Bonilla, revealed on Thursday that the fiscal deficit will increase to 5.3% of GDP this year, while the goal of the Fiscal Framework was 4.4%. “The fiscal rule gives us that space,” said Minister Bonilla.
Julio César Romero, an analyst at Corficolombiana, considered that the Financial Plan “takes the Fiscal Rule to the limit” and highlighted that part of the deficit “will be financed with internal disbursements of $53.4 billion.” The daily analysis of Banco Itaú also highlighted that tax collection was lower than expected in 2023 and drew attention to the impact that the rulings of the Constitutional Court will have on the deductibility of royalties.
On the international stage, analysts react to economic data in the United States, where 353,000 jobs were added in January 2024, compared to 333,000 in December, above what the market expected.
Edwin Torres, professor at the University of Antioquia, He assured that the better performance of the US economy “is beginning to show signs of macroeconomic stability and reactivation”. The larger increase in employment, however, could prevent the Federal Reserve from starting to cut interest rates soon, the Reuters analysis highlighted.
Investors were also attentive to the companies Meta and Amazon, which reported more profits than the market projected and made The prices of both stocks will skyrocket by a total of US$279 billion in pre-marketing operations.
Performances that are explained by high job cuts and strong sales during the Christmas season.
How are oil prices today?
Oil headed for biggest weekly loss since early Novemberas negotiations progress for an agreement to end the war between Israel and Hamas, which could be a crucial step in ending the conflict.
West Texas Intermediate traded in a narrow range of around $74 a barrel, putting it on track for a weekly drop of around 5%.. Talks about a ceasefire and the release of hostages are still in the early stages, people familiar with the matter told Bloomberg.
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