The dollar fell on Thursday after US President Donald Trump signed an agreement to end the federal government shutdown, while the yen hit a record low against the euro.
The dollar broke the $3,700 barrier at its opening and is now trading at $3,696.47 which represents a decrease of $23.24 compared to the Representative Market Rate, TRM, which for today stands at $3,719.71. In addition, the currency registered a minimum price of $3,685 and a maximum of $3,721.90with 1,115 transactions for an amount of US$629 million.
These trading prices mark a milestone in the behavior of the currency, since they had not been seen since June 17, 2021, when it was listed at $3,690.56.
Thus, the Colombian peso has already accumulated a revaluation in the last month of 6.38% among emerging currencies, becoming the one with the best performance since last October 13. The local currency is followed in the top five by the Chilean peso with 3.49%, the Brazilian real with 3.45%, the Malaysian ringgit with 2.42% and the Hungarian forint with 2.33%.
In contrast, the most devalued in the last month are the Argentine peso with a fall of 4.41%the South Korean won with -2.68%, the Philippine peso with -1.31%, the Taiwanese dollar with -1.22% and the Turkish lira with -1.06%.
Wilson Tovar, director de investigations of Alianza Valores, explained that, “We are in a short-term trend, a weak dollar globally. $3,700 was a target, now it can go lowerdepending on how much debt the government makes abroad and how much it monetizes.
Currency markets could face volatility in the coming days with the release of a raft of delayed economic data, after the prolonged US government shutdown ended late on Wednesday. However, the White House said employment and consumer price figures for October may not be released.
The data underlined the backdrop of slow growth against which Finance Minister Rachel Reeves is preparing its budget, which is expected to contain a series of tax increases.
Oil
Oil prices fell on Thursday, extending losses from the previous session, as a report showing rising crude oil inventories in the United States reinforced concerns about global oversupply.
Brent crude fell US$20 cents to US$62.51 a barrel, after falling 3.8% a day earlier. U.S. West Texas Intermediate crude lost $24 cents to $58.25 a barrel, extending a 4.2% decline on Wednesday.
U.S. crude stockpiles rose by 1.3 million barrels in the week ending Nov. 7, market sources reported Wednesday. citing figures from the American Petroleum Institute, API.
The market expects that the Energy Information Administration, EIA, The United States is expected to release inventory data later on Thursday.
Prices fell more than $2 a barrel on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) said global oil supply would slightly exceed demand in 2026. which would represent a new change with respect to the group’s previous deficit forecasts.
“The recent price weakness appears to be driven by OPEC’s review of the balance between supply and demand in 2026 in its monthly report, confirming that the group now recognizes the possibility of oversupply in 2026, in contrast to its more bullish stance all along“said Suvro Sarkar, head of the energy sector team at DBS Bank.
Opec said it expected a supply surplus next year due to higher production increases from Opec+, a group of producers that includes members of OPEC and allies such as Russia.
The International Energy Agency, IEA, raised its energy growth forecasts on Thursday world oil supply for this year and next in its monthly oil market reportpointing to a larger surplus in 2026.
The US EIA also indicated on Wednesday in its Outlook report Short-Term Energy Estimates that US oil production will reach a higher record this year than previously predicted.
Global oil inventories will grow through 2026 as production rises faster than demand for petroleum fuels, which will add pressure to oil pricesadded the EIA.
