The US currency has risen for three consecutive days, while the dollar index will close its biggest weekly rise since May.
He dollar in Uruguay It continues its positive streak in 2024 and closed the third consecutive day higher, although with small variations. Meanwhile, globally, the currency also maintains a path of relative recovery after falling to five-month lows.
He dollar achieved a new increase so far in January, and recovered 0.17% at the close of Thursday – compared to Wednesday -, thus trading at 39,223 pesos, according to official data from the Central Bank of Uruguay (BCU).
This is the third consecutive day of growth, a behavior that, for the moment, keeps the price of the US currency stable in the range of 39 pesos. In any case, stay away from the market expectationswhich by the end of 2023 were already expecting a price of 39.50 pesos.
The monthly variation in these few days of 2024 is positive, and accumulates an increase of 0.52% —0.20 pesos.
Global stability remains pending for the US economy
At a global level, the dollar also moves positively while traders’ expectations for a cutout imminent and soon of the reference interest rates by the United States Federal Reserve (Fed) they are declining.
This recovery —which also impacts the local exchange market— will be put to the test, in any case, with the publication of the non-farm employment payrolls. In this regard, analysts predict the creation of 170,000 jobs in December, less than the 199,000 in November, according to the agency. Reuters; although the strength of the labor market continues, especially the private sector.
Meanwhile, the tool FedWatch of CME shows that traders are pricing in less than 140 basis points of cuts this year, with a March cut probability of 62%, down from 86% a week earlier.
In that sense, the dollar index It is headed for its biggest weekly rise since May, with an increase of 1.4%.
Source: Ambito
