The US dollar faced fluctuations against the Colombian peso on Monday, May 13, starting the day at around 3,893.35 before dropping to a daily low of 3,882.00 after the opening of Wall Street. Currently, USD/COP is trading above 3,887.51, showing a 0.08% decrease for the day.
Looking ahead, Colombia is set to release several key economic data points this week. Markets in Colombia were closed on Monday for the Ascension holiday, with industrial production and retail sales data for March set to be released on Tuesday. Both indicators had seen a decrease in February, with industrial production falling by 2.2% and retail sales by 1.8%.
On Wednesday, Colombia will publish its GDP for the first quarter after the economy grew by 0.3% in the fourth quarter of 2023. In the US, Federal Reserve Vice President Philip Jefferson expressed his support for maintaining interest rates at current levels until there is a clear moderation in price pressures. Stay tuned for more updates on these economic developments.