# COP best performer so far in 2018 – Rabobank — Octa

> Rabobank's Christian Lawrence said the Colombian peso is the best-performing currency so far in 2018. He expects USD/COP to move largely in line with oil prices, with oil likely to peak near current levels before falling later in the year. Rabobank also forecasts a 25bp central bank rate cut this year and sees USD/COP returning above 2900 in the second half.

- Date: 2018-04-27 · published 2018-04-27T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/65790-cop-best-performer-so-far-in-2018-rabobank-octa
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The peso's direction tracks oil, so a peak in crude later in 2018 would weaken support for the currency and raise dollar-denominated import costs for Colombian feed buyers.

## Read by commodity

- WTI: neutral
- USDCOP: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-12-01 | [Crude oil prices to be under pressure in first half of 2018: S&P](https://feedsoft.ai/events/67647-crude-oil-prices-to-be-under-pressure-in-first-half-of-2018-s-and-p.md) | -1.5% | +5.3% |
| WTI | 2023-12-01 | [Rupee closes at new low of 83.39/$; worst performer among Asian currencies](https://feedsoft.ai/events/33468-rupee-closes-at-new-low-of-83-39-worst-performer-among-asian-currencies.md) | -8.8% | -5.2% |
| WTI | 2024-09-19 | [How commodity prices perform following rate cuts: Analysts](https://feedsoft.ai/events/28218-how-commodity-prices-perform-following-rate-cuts-analysts.md) | -1.9% | -1.1% |
| WTI | 2017-03-15 | [Will A Fed Rate Hike Boost The Price Of Oil? \| Investing.com](https://feedsoft.ai/events/71924-will-a-fed-rate-hike-boost-the-price-of-oil-investing-com.md) | -0.6% | +12.6% |
| WTI | 2017-10-18 | [Commodities following different paths on a common upward hill - Scotiabank — Octa](https://feedsoft.ai/events/68395-commodities-following-different-paths-on-a-common-upward-hill-scotiabank-octa.md) | +1.0% | +7.3% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/563338/

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