Our take: This week, the US Dollar (USD) has shown an aggressive hawkish rally, hampering the recovery of emerging markets. The market awaits the Federal Open Market Committee (FOMC) minutes, which we expect will send a dovish message to investors, increasing expectations of a pivot in the Federal Reserve’s (FED) monetary policy, curbing the bullish momentum of the USD. This week’s US economic calendar contains important data that will reflect the condition of the economy, through manufacturing activity (PMI and ISM manufacturing) and the labor market (unemployment rate, employment ADP change, and non-farm payrolls). Labor market data could potentially join last week’s bullish US unemployment claims to reflect a slowdown in economic growth, limiting the strength of the USD. This context leads us to expect a USD with a trading range between 104.0 and 105.5 units.
Libro de resultados Banco de Bogotá 3T25
Indicadores financieros positivos, mientras que anuncios corporativos buscan mayor rentabilidad en el largo plazo
