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Live USD/COP priceUS Dollar to Colombian Peso
On the daily chart interval of the USD/COP currency pair, there is an ascending trend with frequent deep corrections. Over the past 10 years, the Colombian national currency has significantly devalued against the U.S. dollar, with the price of COP falling more than 2.8 times.
Recommendation for USD/COP on the 15M timeframe is Buy.
Recommendation for USD/COP on the 1H timeframe is Strong Buy.
Recommendation for USD/COP on the 1D timeframe is Neutral.
The macroeconomic indicators of Colombia do not support the strengthening of the national currency:
- Despite relatively low GDP growth rates in the country, there is a high unemployment rate of around 10%. In neighboring Ecuador, which experienced hyperinflation and abandoned its currency, this indicator is around 4%.
- The inflation level is moderate, averaging just above 10%, which is four times the target level. The Central Bank is gradually raising the benchmark interest rate, but inflation has not yet been successfully reduced.
- The majority of exports consist of raw materials. Weak development in other key industries reduces the investment attractiveness of the Colombian peso.
Despite a relatively small trade balance deficit, Colombia faces challenges with exports. Its main trading partners are the United States, Ecuador, and Venezuela. The economic conditions of the latter two countries are not in the best state, which introduces currency exchange rate risks. This factor also influences the gradual appreciation of the exchange rate.
In our article, you will be able to learn the latest price forecasts and signals on the USD/COP currency exchange rate for 1 hour-1 week. USD/COP forecasts and signals are based on the technical analysis indicators.
On this page, you will find the latest information about current prices, updated and new forecasts for short and long-term intervals:
- Asset quotes are updated every minute.
- Price chart is updated every minute.
- Technical indicator data is updated according to the time frame. For example, on M5, the data is updated every 5 minutes.
- Medium and long-term forecasts are updated every hour.
