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Forex Flash: Colombia to growth 4.0% in 2013; USD/COP to move in 1,790-1,800 range - Bancolombia

FXstreet.com (San Francisco) - According to the Bancolombia analysts team, "the outlook for the global economy in 2013 has turned rosier." But Colombia will performance an economic slowdown caused by "external and internal factors". The Bancolombia growth forecast for Colombia is 4.0% in 2013.

Bancolombia expects "moderated price pressures and lower interest rates in internal markets," with the local government debt to perform well, "thanks to the low inflation context and our expectation that in March Central Bank will cut rates by 25 bps."

The bank expects the USD/COP moving in range between 1,790-1,800 with a year end target at 1,780. The pair will be influenced by opposite forces: on one hand, "strong investment in flows in 2013 will contribute to appreciate COP." and in the other hand "further appreciation will be contained by Central Bank intervention, higher global volatility and an early end of QE program by the FED."

American equity markets advance Wednesday

The US Stock market experienced definitely more positive opening Wednesday ahead of the FOMC minutes later tonight, which is expected to yield little surprise from the Feds previous stance.
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