At 1:00 p.m., the dollar reached an average price of $ 3,539.83, which represented an increase of $ 32.72 compared to the Representative Market Rate (TRM), which today stood at $ 3,507.11. The US currency reached a new all-time high in Colombia.
The currency opened the day with a price of $ 3,525, that is, it opened above what was the maximum price to date ($ 3,522) and its closing was $ 3,519.20, which was the minimum of the day.
The maximum price that was registered on the Set-Fx platform was $ 3,549.70. The amount negotiated during the day was US $ 1,524.67 million in 2,708 transactions.
A day after Wall Street registered its worst fall since 2011, fear of the spread of Covid-19 continued to hit the stock market.
European stock markets registered falls of more than 3%, while futures in the US indexes marked a similar day to Thursday.
In the case of places in Asia, stock exchanges in Tokyo, Seoul and Shanghai registered falls of more than 3%. As cases increase outside of China, risk aversion rises. The markets dawned with news such as the quarantine of 1,000 people in Germany, while Switzerland canceled the Geneva motor show.
“It’s a messy week,” Ned Rumpeltin, European head of foreign exchange strategy at Toronto-Dominion Bank, told Bloomberg. “The complacency that had defined market behavior in recent weeks has disappeared, that’s for sure,” he added. Reuters calculations indicated that fear of the virus’s reach caused the stock markets to register their worst week since the financial crisis in 2008, after suffering a loss of value of US $ 5 billion.
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About 13:10, the WTI registered a fall of 4.65% and reached US $ 44.90, while the Brent reference barrel contracted 3.09% and reached US $ 50.57.
If this trend continued, according to the Reuters report, the WTI was heading for its biggest weekly crash in more than four years, after losing more than 14% this week alone.
Brent has plummeted almost 13% since Monday, going to its biggest weekly decline since January 2016.
“A Brent crude below US $ 50 will be a nightmare scenario for Opep and could provoke a (…) response of some kind from the central group,” said Jeffrey Halley, market analyst at Oanda, he said. Reuters The agency also reported that several Opep members are inclined to apply deeper cuts in crude oil production. In the case of Saudi Arabia, it would come with the proposal to make an additional cut of 1 million barrels of oil per day (bpd) for the second quarter of 2020, more than the initial proposal for a decrease of 600,000 bpd. The current cut of the cartel of countries, including Russia, is 1.7 million barrels per day. The meeting is scheduled for next week.
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