By increasing oil, the dollar would not pass the $ 2,950 mark

The dollar ended the previous week with less resistance to currencies developed markets, a situation that contrasts with the increase in oil prices driven by US sanctions against Iran and the demand that this government make its allies stop importing crude oil from Tehran, in order to block its economic income.

the currency can not strengthen against the Colombian peso, while striking the emerging markets. Analysts consulted by LR project an average price of the dollar to $ 2,930, while those who indicate a quotation value of the highest currency project a maximum of $ 2,950.

According to this and the previous projections, this would be a new maximum. that the currency reaches to maintain the current conditions. Analysts also agreed to project a value of the WTI oil reference above US $ 72, figures that put it at its maximum for three and a half years for those who arrived the previous week.

The financiers consulted by this Every day, a barrel of WTI projected an average of US $ 73.5 for this week. An analysis by Reuters reported that because of production problems that cross Canada and have forced to reduce its forecast delivery to 360,000 barrels a day for July; added to the production deficit of Iran and Venezuela, could increase oil prices even more in the coming weeks as the agreement to increase production of the Organization of Petroleum Producing Countries (OPEC) ), seems insufficient in the face of the new panorama. 19659004] Juan David Ballén, director of research at Casa de Bolsa, points out that another fact to consider is "the increase in oil demand in the summer season in the United States , which is reflected in the reduction of its reserves and increases its price. "Thus, the analyst, despite an average of 72.8 dollars a barrel for the week, believes that" in these cases it is very difficult to project the price of the goods ". Ultraserfinco, Diego Camacho, points out that "for this week we can expect an extra lead, before observing a stabilization that facilitates a technical correction."

Against the dollar's relationship, Camacho comments that "last week In June, the local currency market recorded a demand for dollars associated with the context observed in other emerging markets, especially those in the region. begins, the increase in the price of oil is an element that facilitates a downward adjustment of the dollar price compared to the previous weekly close. "

Natalia Granados, Senior Analyst at Global Securities, says that" The The traditionally negative correlation between the Colombian peso and oil has declined over the last three months, which is why, despite the WTI at levels never seen since 2014, the Colombian peso remains above the $ 2,900 mark. However, the analyst does not expect that it could still reach $ 3,000

The Colcap would see a brief correction and stay strong.