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April Trade Balance Expected At 1600BST

COLOMBIA
  • On the data front, the trade deficit is expected to come in at $957 million in April, compared with a $687 million deficit the month before (1600BST/1100ET). Imports are expected to pick up to $5.664bn, from $4.757bn in March.
    • April Imports CIF Total, est. $5.66b, prior $4.76b
    • April Trade Balance, est. -$957.2m, prior -$686.6m
  • Meanwhile, Congress is due to discuss the debt ceiling today. The congressional period is due to end today and as reported yesterday, Public Credit Director Jose Roberto Acosta has said that the government could cease debt payments in September or October if congress doesn’t approve the increase in the ceiling by $17.6bn. He added, however, that he thought such an outcome would be unlikely.
  • In other news, inflation adjusted existing home sales prices rose by 4.7% y/y in the three months ended March, according to Bloomberg calculations. Real house prices recorded the third consecutive quarterly gain and accelerated for a fifth quarter running.

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