The price of dollar in Colombia once again gains ground in the local market and completes its third consecutive day of the week on the rise, awaiting US employment data for May, which will be published on Friday, with expectations placed on a slowdown sufficient for the Federal Reserve to cut interest rates soon, but not excessively pronounced as to fear a recession.
(Read: Seven proposals from experts to give a boost to the Colombian economy).
According to the Colombian Stock Exchange, The US currency is traded at an average price of $3,937That is, it earns 10 pesos compared to the Representative Market Rate, which is $3,927.
With this new increase, The foreign currency adds 78 pesos in three trading days (Monday was a holiday), starting the week at $3,860.
(See: Corruption has cost the country more than 21 billion pesos in the last 6 years).
Investors are paying attention to employment figures, after according to the monthly ADP/Stanford Lab survey, in the United States, job creation in the private sector moderated in May, especially in the manufacturing industrial sector.
Dollar.
Bloomberg
According to this survey, 152,000 positions were added last month compared to 188,000 in April, and 175,000 expected by analysts.
(See: Will Banrep accelerate the fall in interest rates? Manager responded… and asked for caution).
These data, prior to the official employment report that will be released on Friday, relaunched the hypotheses of an interest rate cut in September by the Fed. The rise in the markets “It’s really due to this morning’s data showing that the labor market is finally calming down and that the Fed will be free to lower rates”said John Kilduff of Again Capital.
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