The dollar faced significant fluctuations during the last week of April, as economic data was released and in anticipation of a new Federal Reserve meeting scheduled for this week. On Friday, the PCE (consumer price index) in the United States was published, showing a moderate increase of 0.3%, bringing the index to 2.8%.
This figure, released by the Bureau of Economic Analysis of the Department of Commerce, is an important inflation gauge for the US central bank. The Federal Reserve uses this data to determine whether to adjust interest rates, which currently remain at a range of 5.25% – 5.50%. With inflation on the rise, analysts predict that the Federal Reserve will not make any adjustments to interest rates at the upcoming meeting, hoping that inflation will decrease in the coming months.
The US dollar could be influenced by the Federal Reserve’s upcoming meeting, where they will discuss the possibility of cutting interest rates. However, due to the recent inflation growth shown in the PCE report, it is expected that rates will remain unchanged for the time being. Some projections suggest that a rate cut may not occur until September or even 2025.
On April 29, the dollar started trading at $3,890, marking a decline of $54 compared to the market rate set by Superfinanciera at $3,926. Exchange offices are buying dollars at $3,740 and selling at approximately $3,850 on April 29. These prices are calculated unofficially by the Dólarhoy.co portal and may vary based on location and time. Stay tuned for minute-by-minute updates on the dollar’s movements as the week progresses.