The dollar in Colombia traded smoothly this Wednesday, while the market remained attentive to the most recent results of the personal consumption expenditure price index. a key piece of information in the FED’s considerations to define the direction of the interest rate.
(Read: Prices of personal consumption expenditures in the US rose 2.3% in October).
According to the Colombian Stock Exchange, The US currency rose 1 peso on the day and closed at $4,406 (the TRM was 4,405).
During the day, investors were awaiting the publication of the personal consumption expenditure (PCE) price index, looking for clues about how the FED will proceed with its interest rate policy at its meeting. of December.
(Here: USA, Brazil and other countries affected by new immigration measures from the United Kingdom).
According to the Bureau of Economic Statistics (BEA), In October, personal spending registered an increase of 2.3% year-on-year, two tenths more than in September.
The PCE price index is calculated based on inflation (or deflation) of a wide range of consumer expenditures and reflects changes in consumer behavior.
It is key for the Fed, which observes it closely when deciding on monetary policy, along with underlying inflation, Gross Domestic Product or unemployment.
(Also: The sectors that will feel the cut of $28.4 billion in the 2024 Budget the most).
The US central bank began its cycle of interest rate cuts in September, after inflation had been reduced (to 2.6% in October, latest known data).
PORTFOLIO
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