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Carlos Gustavo Rodríguez Salcedo
At 1:01 pm, the dollar registered an average trading price of $ 3,533.03, which represented a fall of $ 25.54 compared to the Representative Market Rate (TRM), which today stands at $ 3,558.57.
The currency opened the day with a price of $ 3,569 and at the close it was $ 3,524.02, while the minimum price reached $ 3,523.20 and the maximum was $ 3,569. The amount negotiated was US $ 1,019 million in 1,651 transactions.
The price of the dollar was impacted because operators were waiting for a greater fiscal stimulus in the United States, Reuters noted, which also detailed that “an economic stimulus package for US $ 908,000 million presented by a bipartisan group on Tuesday, along with Talks between Treasury Secretary Steve Mnuchin and Speaker of the House of Representatives Nancy Pelosi raised risk appetite and brought down the dollar. “
To this was added the good news that came from the United Kingdom, after the approval of Pfizer’s vaccine against coronavirus, and the implementation of the plan to distribute it to the entire population favored the appetite for risk, which was consolidated over the past month following announcements of progress on immunization against the virus.
Globally, the dollar was at a two-and-a-half-year low against the euro and against an index of the main currencies due to investors’ interest in riskier currencies.
Despite this, investors were still waiting for Thursday’s meeting of the Organization of Petroleum Exporting Countries (OPEC) and its allies on the agreement to extend or not the production cuts.
Around 1:00 in the afternoon, the WTI barrel expanded 2.15% and reached US $ 45.51. In the case of Brent, a benchmark for the Colombian economy, it was over US $ 48.41, with a fall of 2.09%.
“Reports of internal disagreements within the oil cartel after the virtual meeting on Monday have undermined the prevailing optimism,” Stephen Brennock of the PVM oil brokerage told Reuters news agency.
According to the agency, the analyst added that market expectations continue to lean towards the extension of the cuts during the first quarter of 2021, although “with full knowledge that anything below would generate a brutal sales frenzy.”
Prices were also affected by an increase in US inventories, as the American Petroleum Institute (API) showed that they grew by 4.1 million barrels last week.
In the case of stocks, around 7:17 in the morning, the Ftse 100 rose 0.17%; the German DAX lost -0.30%, the French CAC 40 had a variation of -0.20% and the Euro Stoxx stopped gaining 0.25%.
“The approval of a highly effective vaccine may usher in the end of the COVID-19 economic turmoil and the beginning of a new bull market for equities,” Mike Bell, strategist at JP Morgan Asset Management, told Reuters. “Scientists came to the rescue and delivered what investors expected for Christmas.”
However, markets are also expecting further tax relief in the United States. Federal Reserve Chairman Jerome Powell appeared in the Senate yesterday and warned that the US economy remains in “a damaged and uncertain state.”
Talks for a new fiscal plan have advanced this week after House Speaker Nancy Pelosi introduced a new Democratic proposal and Senate Republican Leader Mitch McConnell presented a revision of his plan.
In the case of gold, the spot metal was trading at US $ 1,814.80 an ounce, while gold futures in the United States fell 0.1% to US $ 1,817.70. “There is some uncertainty as to whether the stimulus agreement will go through and as it is at the lower end of the scale, it is not very supportive,” Stephen Innes, chief global markets strategist at the services firm, told Reuters. financial Axi.
