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November Trade Balance Data Scheduled

COLOMBIA
  • 1500GMT/1000ET: Colombia Nov. Trade Balance, est. -$1.64b, prior -$1.52m
  • Leading presidential candidate, Gustavo Petro, a senator who favours clean energies, said in an interview that he wants to form a global bloc to shift away from oil and coal, which combined form nearly half of the nation’s exports.
  • Petro also questioned the wisdom of monetary tightening, arguing that most inflationary pressures come from overseas markets.
    • The comments acted as a headwind for the Colombian peso with USDCOP rising back above 4000 on Friday.
  • Billionaire banker, Jaime Gilinski launched a new offer for as much as $289 million to buy up to 6.25% of financial conglomerate Grupo Sura on Friday.
    • Investors are weighing the likelihood that Gilinski will similarly make a second offer for the country’s largest foodmaker, Grupo Nutresa SA, as soon as this week.

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