http://www.forexconspiracyreport.com/colombian-peso-trading/
Colombian Peso Trading
The Colombian peso was the success story of 2012 when it out performed all other currencies against the US dollar. These last few months trading the Colombian peso has been a matter of staying ahead of losses as the fall of the peso has mimicked the fall of the ruble and Russian recession. In each case the major problem is the fall in the price of crude oil. Bloomberg notes that the Colombian peso leads global losers due to dropping oil prices.
Colombia’s peso fell to a five-year low and led losses among world currencies as the price of crude oil, the Andean nation’s biggest export, sank to a five-year low.
The peso sank 2 percent to 2,396.69 per dollar at the close in Bogota, the weakest since April 2009. The drop was the biggest among 31 major currencies tracked by Bloomberg. The peso has tumbled 12 percent in the past month.
The peso has fallen dramatically from the 2000 peso to a dollar range to the 2400 peso to the dollar range. In trading the Colombian peso what can we expect?
Oil Prices
Traders trade oil futures and not oil. Although prices of oil have fallen they are fluctuating up and down. CNBC notes:
Oil futures rose more than a dollar and Brent hit a session high after the U.S. Commerce Department revised its estimate for third quarter GDP growth to 5 percent, a greater leap than expected.
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Colombian Peso Trading
1.
2. The Colombian peso was the
success story of 2012 when it out
performed all other currencies
against the US dollar.
3. These last few months trading the
Colombian peso has been a matter of
staying ahead of losses as the fall of
the peso has mimicked the fall of the
ruble and Russian recession.
4. Before We Continue…
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5. In each case the major problem is the
fall in the price of crude oil.
6. Bloomberg notes that the Colombian
peso leads global losers due to
dropping oil prices.
7. Colombia’s peso fell to a five-year
low and led losses among world
currencies as the price of crude oil,
the Andean nation’s biggest export,
sank to a five-year low.
8. The peso sank 2 percent to 2,396.69
per dollar at the close in Bogota, the
weakest since April 2009.
9. The drop was the biggest among 31
major currencies tracked by
Bloomberg.
10. The peso has tumbled 12 percent in
the past month.
11. The peso has fallen dramatically from
the 2000 peso to a dollar range to the
2400 peso to the dollar range.
15. Although prices of oil have fallen they
are fluctuating up and down. CNBC
notes:
16. Oil futures rose more than a dollar
and Brent hit a session high after the
U.S. Commerce Department revised
its estimate for third quarter GDP
growth to 5 percent, a greater leap
than expected.
17. That is the fastest pace in 11 years
and up from the previous estimate,
which saw the U.S. economy growing
3 percent.
19. A stronger US economy will help
keep the price of oil from falling
further.
20. However, Japan is going into a
recession with Europe possible not
far behind.
21. China is experiencing slower growth
and will no longer see yearly ten
percent increases in its GDP.
22. In trading the Colombian peso one’s
eyes need not be on Colombia but on
the global economy and demand for
oil versus supply boosted by fracking
technology and OPEC production.
There is, however, one exception.
24. Peace talks have been going on for
two years in Havana between the
Colombian government and the
largest rebel group in a sixty year
long civil war.
25. FARC, the large rebel group, has just
called a unilateral ceasefire.
26. There are many issues to deal with
but if the government and rebels can
iron out an agreement it will be a
boost to the Colombian economy in
many ways.
28. Colombia’s Marxist FARC rebels
have declared an indefinite unilateral
ceasefire beginning on Dec. 20 but
promised to call it off if they come
under attack by government forces,
the group said on its website on
Wednesday.
29. Gains could well be seen in trading
the Colombian peso if true peace
breaks out and resources are
diverted to the economy and not
warfare.
30. Over the last several years the
Colombian peso has ranged from
2400 to the dollar to 1600 to the
dollar.
31. If peace breaks out and If peace
breaks out and If peace breaks out
and If peace breaks out and oil prices
rise as well.