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DOLLAR struggles to consolidate above $900

befx | 2023-12-04 17:46

Abstract：The peso dollar has commenced its trading above the highest value recorded yesterday, currently standing at 903.75. The initial starting point for the local currency's upward trajectory is marked by copper's decrease of 0.36% at 3.62 dollars per pound. This decline serves as a stepping stone for the peso dollar to reinforce its position in the 900s range and sustain the ongoing positive trend.

HIGHLIGHTS OF THE DAY

The peso dollar has commenced its trading above the highest value recorded yesterday, currently standing at 903.75. The initial starting point for the local currency's upward trajectory is marked by copper's decrease of 0.36% at 3.62 dollars per pound. This decline serves as a stepping stone for the peso dollar to reinforce its position in the 900s range and sustain the ongoing positive trend.

The 900s become an important floor, and could be the middle of a lateral channel that is beginning to form, with the ceiling at 920 and the floor at 870.

Regarding the foreign position, slight changes were observed, and they continue short in the Chilean peso at 4.1 billion dollars

There is an update for 4:00 p.m. regarding Powell, which might result in a last-minute market shift. This will depend on whether the market perceives that the restrictive policy will be upheld or if there will be a shift in monetary policy. For range of the day. We will have 900 as the first floor, and 907 on the upper part. If the 900 is not respected, the next level to look for is 896.

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