When the US currency fell, the world’s stock markets gained value and the price of oil rose.
The US currency ended the day at $ 3,423.71, down 0.52%, although it hit a maximum of $ 3,439.56. According to the Colombian Stock Exchange, the average price at which the dollar was traded was $ 3,428.45, which is 0.28% less than the Representative Market Rate (TRM) for January 6.
The TRM for tomorrow, January 7, is $ 3,428.04.
The Colcap index, for its part, gained 0.30% (4.30 points). The most valued stocks in today’s session were Conconcreto (+ 9.09%), Cementos Argos (+ 2.30%) and HCOLSEL (+ 2.25%), of the S&P Colombia Select ETF Stock Fund.
The New York Stock Exchange closed Wednesday wrong, with the Dow Jones hitting a new record during a tumultuous political day when pro-Trump protesters raided the US Congress. The Dow Jones Index closed 1.44% up at 30,829.40 points. The Nasdaq technology lost 0.61% to 12,740.79 points and the S&P 500 gained 0.57% to 3,748.14 points. The New York Stock Market ended a day of political chaos on the positive.
The Senate elections in Georgia gave Democrats a likely victory that would put them in control of the upper house of Congress. That outlook has pros and cons for the market: while that will allow Democrats to make their tax increase projects easier to implement – something investors don’t want – they will also be able to endure a second round of budget recovery to rebuild the economy. help out.
The Dow Jones was up more than 2% during the day during the certification process of Joe Biden’s election, which began in Congress on Wednesday without Vice President Mike Pence opposing it, as requested by President Donald Trump.
The index remained at record levels before the shutdown despite chaos caused by a horde of pro-Trump protesters storming Congress.
Finally, a barrel of North Sea Brent for delivery gained 1.49% to US $ 54.30 in London in March. Meanwhile, a barrel of WTI for delivery rose 1.40% to US $ 50.63 in February, a maximum since late February last year.
“Oil prices are on the rise following the unexpected results of the OPEC + meeting,” said Carlo Alberto De Casa, analyst at Activtrades.
After two-day talks, OPEC members and their allies finally agreed on Tuesday that only Russia and Kazakhstan will slightly increase their black gold production in the first quarter of 2021. 7.2 million barrels per day (mbd) in January to 7.125 mbd in February and then 7.05 mbd in March, the cartel announced.
But “the real surprise was Saudi Arabia’s announcement of a voluntary reduction of one million barrels per day to be implemented over the next two months,” the Activtrades analyst added. “Rather than being taken for what it is, a sign of declining demand, the Saudi surprise has pushed up oil prices,” said PVM’s Stephen Brennock.
The two benchmark contracts had already risen by almost 5% on Tuesday. The rise was also fueled by data for oil reserves in the United States, which fell 8mb last week, more than analysts expected.