Dollar in Colombia closed the week below $4,400

The price of the dollar ended the week below $4,400, after falling nearly 11 pesos this Friday in intraday trading.

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For its part, between Monday and Friday, The US currency fell 26 pesos, closing at $4,396. The currency had started the week at a TRM of $4,419.

During the day this Friday, the market was awaiting the unemployment figures in the US presented by the Bureau of Labor Statistics (BLS), which announced that job creation in that country recovered in November with the incorporation of 227,000 new positions, a figure higher than expected.

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Job creation in November represents a solid rebound compared to October – when 191,000 fewer jobs were added than in this last report – and underlines the current resilience of the US labor market.

Now this figure will be analyzed by the Federal Reserve (Fed) to make the decision whether or not to continue cutting interest rates at its next monetary policy meeting.

Although, For some experts, this push is still insufficient to decide the Fed’s next position on the matter. And, on the other hand, the unemployment rate rose one tenth in November compared to October, up to 4.2%.

(Here: Five tips to take advantage of the year-end bonus wisely).

In total there are 7.1 million unemployed people in the US, a higher figure than a year earlier, when this record was 6.3 million. At that time, the rate was 3.7%. According to the CME Group’s Fedwatch tool, analysts now value the probability of a new decline at 88%. In this sense, Fed Chairman Jerome Powell indicated on Wednesday that the US economy is strong enough to be cautious when it comes to rate cuts.

PORTFOLIO