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.
- 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 Friday, October 29, 2021:
- Premarket | Stock markets are trading lower due to disappointing results from Apple and Amazon.
- Asian stock markets ended this Friday with losses in almost all markets, at a time when countries are relaxing measures against Covid-19.
- Tech stocks dragged European stocks down on Friday as Apple’s suppliers fell on bleak forecasts for the iPhone maker’s Christmas quarter as investors remained nervous about the outlook for monetary policy.
- Shares in the US are targeting a lower open on Friday, amid disappointing results from Apple, Amazon and Starbucks, whose revenues also came in below expectations.
Dollar For Today 10-29-2021:
COP: Lateral market with closing 3779.5 after a maximum 3779.7 and min 3747.10 with a volume of Us0.9bn. COP opened at 3780, reaching highs of 3794, to return above levels below 3790.
In the previous day, the USDCOP pair closed at $ 3,779.50 (+ $ 19.50 compared to the previous close), after an opening at $ 3,765.90, a maximum level of $ 3,779.70 and a minimum level of $ 3,747.10. The volume traded reached $ 0.92bln and volatility of $ 32.60 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.