It will be a quiet start to the week with the US holiday today for Martin Luther King and it was also another quiet weekend in terms of the local press with very little to report.
The Peso will remain in focus this week, it closed last week at $4,688. On Friday it did move above $4,700 but there appears to be little appetite to remain at those levels in the face of a China reopening and oil trading at $85. When the Peso was above $5,000 President Petro pleaded with people not to take their money out of the country, those who did are currently badly offside.
Speaking of Petro he is off to Davos this week to discuss a variety of subjects at the World Economic Forum including the climate crisis, sustainable energy and Total Peace.
The ELN will sit down with the Colombian Government tomorrow in order to try and get the peace process back on the rails. A 6-month truce was announced by Petro in late December but the ELN then said they hadn’t agreed. Hopefully this week we will be back on track.
On the macro front this week, it will be busy with export & import data as well as the latest data from the real estate sector – again analysts will be scanning through the numbers for hints of an economic slowdown.
An interesting article in the FT suggesting that the Gilinski efforts to buy stakes in the GEA companies is going to end up in the courts as opposed to a continuation of the tender processes – being Colombia where every third person appears to be a lawyer, that is likely going to be a lengthy process, the question is who that might benefit most?
Please find below the LinkedIn Video:
That is it for this morning – have a good week