This information is based on statistical studies.
The COP is specifically governed by Drivers (Movements in Other Markets) and Fundamentals (News that are happening or that happen on the same market day).
3 Drivers that impact your performance on a daily basis:
- WTI (Oil): When it rises, the COP falls and vice versa.
- Euro Vs. USD: When the Euro strengthens in relation to the US dollar, emerging currencies go down, and vice versa.
- Devaluation of the Dollar: the American currency Dx, devalues, when this happens the emerging currencies go down, when the Dx strengthens, the emerging currencies rise:
Fundamentals, Monday, October 12, 2021:
- New default by Evergrande (China) hits confidence in world stock markets.
- US stocks will open higher despite declines in Asia and Europe.
- Investors on the lookout for new US employment report.
- Bitcoin continues at $ 57,000. For its part, Ethereum is trading at US $ 3,500.
- Oil prices rise to about $ 84 a barrel, on a three-year high, supported by a rebound in global demand that is contributing to energy shortages in major economies like China.
Dollar For Today 11-12-2021:
In the previous day, the USDCOP pair closed at $ 3,755.50 (- $ 11.85 compared to the previous close), after an opening at $ 3,765, a maximum level of $ 3,766 and a minimum level of $ 3,753. The volume traded reached $ 0.25 billion and volatility of $ 13 pesos.
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* This analysis does not represent a guarantee against the average value of the analyzed currency, nor its variations. Efinti is not responsible for any misinterpretation that may be made against the published article.