The dollar in Colombia closed this Thursday at $ 3,547.33 with a rise of 0.78%.
On Thursday, the dollar closed at $ 3547.33 with a rise of 0.78%. The US currency has been in this range for weeks, in fact, the average price today was $ 3,538.29. The Market Representative Rate (TRM) for tomorrow, February 19 will be $ 3,537.86.
For its part, the Cólcap index of the Colombian Stock Exchange (BVC) ended with a loss of 0.92%. The most devalued shares were Conconcreto (-3.73%), Ciments Argos (-2.12%) and Ecopetrol (-2%); while among the most valued were ETB (+ 2.01%), Miners (+ 0.74%) and Grup Sura (+ 0.53%).
The actions of Mur Street fell on Thursday after disappointing employment data in the United States, Walmart’s results (down 6.4%) and the defense, in front of a congressional hearing, of the main ones involved in the stock market frenzy for shares by GameStop.
The Dow Jones industrial average closed down 0.38% at 31,493.34. The technology-based Nasdaq Composite Index fell 0.72% to 13,865.36, while the broad-based S&P 500 lost 0.4% to 3,913.97.
The losses were propelled when Robinhood co-founder and CEO Vlad Tenev defended the use of the brokerage site in the GameStop frenzy last month. “I’m not trying to throw anyone under the bus,” Tenev said as he was bombarded with questions during a virtual hearing. “All I can say is that Robinhood fit the books.”
Investors remain optimistic that the government will approve more stimulus spending, but are unsure whether President Joe Biden will get approval for the entire $ 1.9 trillion package he has announced.
Analysts also noted concern over high stock valuations and rising yields on U.S. Treasury bonds in anticipation of higher inflation. 10-year Treasury bond yields remained feverish, rising above 1.31% in the morning before hovering around 1.28% at the end of the session.
other assets
Oil prices fell on Thursday, ending a three-session high, despite a larger-than-expected drop in U.S. oil reserves.
The barrel of Brent of the North Sea for delivery in April fell 0.64% in London to $ 63.93. However, it reached US $ 65.52 during the session, a price that had not been seen since January 2020. WTI for the month of March lost on the other hand 1.01% to US $ 60,52. During the day it reached US $ 62.26, for the first time in more than a year.
Prices for the two reference barrels have appreciated by almost 25% since the beginning of the year.
According to figures released Thursday by the U.S. Energy Information Agency (EIA), commercial crude oil reserves in the United States fell last week by 7.3 million barrels (MB). It was the fourth consecutive week of decline and exceeded analysts ’expectations, which had forecast a 2.2 MB decline.
“While the latest EIA report is optimistic in nature for prices, the WTI is struggling to surpass its recent high of $ 62 a barrel,” said Bart Melek of TD Securities. “If a barrel of WTI above US $ 62 (US $ 65 per Brent) is possible, these additional increases may not last with the rise in world supply from April, when the Saudis will produce the ‘ equivalent to one million barrels per day, ”the expert explained.
As part of an agreement with its OPEC + partners, Saudi Arabia is sticking to production quotas so as not to flood a market undermined by the impact of the pandemic. The cold snap affecting part of the United States, including Texas, the country’s energy lung, has also helped drive up prices in recent sessions, because there was a risk of production disruptions.
But experts agree that this is temporary. For Bart Melek, all indications are that “the WTI and Brent are likely to trade $ 5 below their recent highs” in the near future.