The dollar closed the day slightly higher while US stock futures fell slightly as traders digested Donald Trump’s latest cabinet appointments and expected a flurry of data on the US economy for clues about the outlook for interest rates.
According to Bloomberg, traders are awaiting a host of US data ahead of the Thanksgiving holiday, including the Fed’s preferred inflation gauge and an update on economic growth.
The currency closed the day at $4,406.25, placing $0.29 above the Representative Market Rate, which is at $4,405.96. The coin reached a maximum of $4,422.5 and a minimum of $4,379.6. 2,042 transactions were carried out for US$1,126.2 million.
Mauricio Acevedo, currency and derivatives strategist at Corficolombiana, assured that today the market will be attentive to the third quarter GDP in the United States. as well as durable goods orders.
The president-elect’s tariff agenda appeared to gain more momentum as Trump named Jamieson Greer as U.S. trade representative and Kevin Hassett to lead the National Economic Council. Greer was intimately involved in the trade policy decisions of Trump’s first term.
Oil prices
According to the Bloomberg portal, oil stabilized, as signs that Opec+ will once again delay the restoration of production counteracted the decrease in geopolitical risk after the ceasefire agreement.
Brent crude futures rose US$0.5 to US$72.86 a barrel, while West Texas Intermediate crude futures rose US$3 to US$68.80 a barrel.
According to the Reuters portal, the ceasefire between Israel and Hezbollah will come into force on Wednesday, after both sides accepted an agreement negotiated by the United States and France, as announced on Tuesday by US President Joe Biden.
Regarding the Organization of the Petroleum Exporting Countries and its allies led by Russia, Opec+, some sources indicated that the group is debating a new postponement of the production increase planned for January, before the December 1 meeting to decide the policy to follow in early 2025.
