# USD/COP Outlook 2H21 - Western Union

> The Colombian peso has depreciated about 13.6% against the US dollar so far this year, losing roughly 150 pesos since January and surpassing the 3,900 level. The analysis links the weakness to dollar strength as a safe haven, tax reform protests, the loss of investment grade from S&P and Fitch, and a trade deficit. The outlook sees asymmetrically positive risk balance given high oil prices and activity data showing a recovery.

- Date: 2021-07-07 · published 2021-07-07T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/46341-usd-cop-outlook-2h21-western-union
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Persistent peso weakness and a widening risk premium raise the cost of imported feed ingredients for Colombian buyers, while high oil prices support the currency through its historical sensitivity. The outlook is mainly a currency view with limited direct effect on feed commodity prices.

## Read by commodity

- WTI: bullish ▲
- USDCOP: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-06-19 | [Commodities outlook: It's all action as Fed decides](https://feedsoft.ai/events/58511-commodities-outlook-it-s-all-action-as-fed-decides.md) | +7.1% | +5.0% |
| WTI | 2020-10-06 | [A Bullish Outlook for Commodities \| WisdomTree](https://feedsoft.ai/events/50561-a-bullish-outlook-for-commodities-wisdomtree.md) | +0.3% | -6.3% |
| WTI | 2023-12-14 | [U.S. crude oil rises 3% on weaker dollar, slightly improved 2024 demand outlook](https://feedsoft.ai/events/32887-u-s-crude-oil-rises-3-on-weaker-dollar-slightly-improved-2024-demand-outlook.md) | +6.9% | +5.3% |
| WTI | 2023-10-27 | [Petroleum's influence on crop prices increases \| The Western Producer](https://feedsoft.ai/events/15270-petroleum-s-influence-on-crop-prices-increases-the-western-producer.md) | -0.9% | -10.2% |
| WTI | 2021-10-06 | [ICE weekly outlook: Canola feeling the energy - Grainews](https://feedsoft.ai/events/44670-ice-weekly-outlook-canola-feeling-the-energy-grainews.md) | +2.1% | +6.1% |

## Sources

- accivalores.com: https://www.accivalores.com/en/otros-informes/4283-perspectiva-usd-cop-2s21/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.