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CIBC analyst Luis Hurtado revised Colombian GDP expectations to around -4% for 2020, down from -2% last month and an initial +3% forecast. He kept a USD/COP forecast of 3800 by end-Q2 and 3600 by year-end, and said the pair may face a ceiling in the 4100-4200 range.
Weaker growth and a lower policy rate expected from the central bank point to a softer peso, which raises the local cost of imported feed inputs; the oil price slump adds pressure on the currency.
forexcrunch.comFX StreetMay 25, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
