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Analysis and Forecast of the Exchange Rate COP / USD Tuesday 10-26-2021

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:

 

  1. WTI (Oil): When it rises, the COP falls and vice versa.
  2. Euro Vs. Usd: When the Euro strengthens in relation to the US dollar, emerging currencies go down, and vice versa.
  3. Dollar devaluation: the American currency Dx is devalued, when this happens the emerging currencies go down, when the Dx s strengthens, the emerging currencies rise.

Fundamentals Tuesday October 26, 2021:

  • Premarket | Stock markets in Asia, Europe and the US remain with favorable trends.
  • Asian stock markets ended the trading day with gains on Tuesday at a time when countries in the region are reopening their economies after experiencing major outbreaks of Covid-19.
  • European stocks were nearing all-time highs on Tuesday as strong results from UBS, Reckitt Benckiser and others added to general optimism about the third-quarter earnings season.
  • Stocks in the US point to a positive open following events in Asia and Europe.
  • Oil prices are down today but remain near multi-year highs, supported by a tight global supply and strong demand in the US, the world’s largest consumer.

Dollar For Today 10-26-2021:

In the previous day, the USDCOP pair closed at $ 3,767 (- $ 1 compared to the previous close), after an opening at $ 3,773, a maximum level of $ 3,775 and a minimum level of $ 3,757. The volume traded reached $ 1.01bln and volatility of $ 18 pesos.

COP: Bear market closing 3767 after a high. 3775 and 3757 min with a volume of Us1.0bn. Today it opens at 3770, and trades slightly higher.

* 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.

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