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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
COLOMBIA
- The firmer economic activity reading in August, +8.6% versus +6.4% in July, has the potential to increase the likelihood of further aggressive monetary policy tightening from BanRep at the October 28 meeting.
- With the additional pressure of annual CPI rising to 11.44% in September and the core reading eclipsing 8%, the central bank decision will be in focus following six of the seven-member board voting for a 100bp hike to 10.00% in September and may prolong the ability to signal the end of the tightening cycle as has been seen in Brazil and Chile.
- The Colombian Peso has continued its downtrend over recent trading sessions with USDCOP rising to all-time-highs of 4793, up over 2% in today’s session, largely a result of the renewed weakness in oil prices.
- As noted this morning, WTI futures remain vulnerable and this week’s weakness has reinforced a short-term bearish theme. $82.89, the 61.8% retracement of the Sep 26 - Oct 10 rally has been breached during Tuesday trade and the next notable support comes in at $79.14 - Low Sep 30.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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