Colombia Opens The Week With A Firm Peso And A Still-Red-Hot Stock Rally
Key Points
- USD/COP hovered near 3,636.5 early Monday, close to the official TRM of 3,637.88.
- The MSCI COLCAP ended Friday at 2,482.72, extending a sharp January surge and printing a fresh record high.
- Charts show a strong trend in equities and an oversold dollar, a mix that often produces volatile pullbacks.
Colombia started the week with its two headline trades still intact: a strong peso and a stock market that refuses to cool down for long.
On your charts around 07:48 UTC, USD/COP traded near 3,636.5, essentially on top of the official TRM of 3,637.88. The broader dollar backdrop remains soft.
MUFG’s Monday note described the DXY as still under downward pressure after slipping below the 98 handle, calling the area technically pivotal. In plain terms, global dollar weakness is still giving the peso room to outperform.
The technical picture in USD/COP is also changing, but not reversing. The daily trend remains lower, yet momentum is less one-way than last week.
On the 4-hour chart, RSI sits in the mid-40s, up from the deeply weak readings seen on Friday, while the daily RSI remains near 40 and the weekly RSI near the low-30s.
That combination fits an “oversold dollar” narrative: the peso is strong, but the easy part of the move may be behind it. Near-term resistance clusters sit around 3,644–3,657 and 3,665, while support is near 3,625.
Equities look even more stretched. The MSCI COLCAP finished Friday at 2,482.72, up 2.01%, after trading as high as 2,483.63. The weekly chart shows a gain near 5.85%. Momentum remains powerful, but extreme.
Daily and weekly RSI readings are in the mid-to-high 80s, levels that usually signal crowding rather than calm accumulation. The 4-hour chart still holds a rising channel, suggesting dips are being bought quickly.
Friday’s leadership also shows how concentrated the move can be.
Top winners (last close): Grupo Cibest (P) +6.06%, ISA +3.49%, Ecopetrol +3.41%, ICOLCAP +2.95%, Grupo Aval (P) +2.84%.
Top losers (last close): Grupo Cibest -2.69%, Enka -2.05%, ETB -1.33%, Nutresa -1.10%, Cementos Argos (P) -1.01%.
The week’s key risk is not whether Colombia is trending. It is whether the market can digest gains without a sharper shakeout.
This is part of The Rio Times’ daily coverage of Colombian markets and Latin American financial news.
For context on regional markets, see Brazil’s Ibovespa for the same session.
Live Market IntelligenceColombia — Live Market Board
Rio Times · Live Market Intelligence
Colombia — Live Market Board
+0.58%
173,714.08
-0.06%
66,634.23
+0.42%
10,886.14
-0.56%
3,199,934
+0.46%
2,298.34
+0.58%
57,220.16
—
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,298.34 | +0.58% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| USD/COP | 3,251 | +0.61% | -18.98% | 3,231 | 3,279 | 3,224 | — |
| BRENT | 88.09 | +4.58% | +26.71% | 84.23 | 88.32 | 83.71 | 30,189 |
| WTI | 81.77 | +3.57% | +21.07% | 78.95 | 82.07 | 77.93 | 235,014 |
| ECOPETROL | 16.09 | +1.84% | +82.01% | 15.80 | 16.11 | 15.75 | 1,840,272 |
| BANCOLOMBIA | 80.41 | +1.18% | +74.99% | 79.47 | 80.73 | 78.43 | 246,334 |
| GRUPO AVAL | 4.92 | -1.01% | +64.55% | 4.97 | 5.00 | 4.89 | 142,955 |
| TECNOGLASS | 46.48 | -0.75% | -37.95% | 46.83 | 47.19 | 45.35 | 224,011 |
| CREDICORP | 390.70 | +0.84% | +72.64% | 387.44 | 393.38 | 377.45 | 248,948 |
| BUENAVENTURA | 30.24 | +0.23% | +82.39% | 30.17 | 30.49 | 29.25 | 1,916,493 |
| SOUTHERN COPPER | 172.48 | -1.81% | +85.37% | 175.66 | 177.33 | 169.05 | 1,612,512 |
Also tracking regional peers: Chile’s IPSA closed the same session.
Related coverage: Brazil’s Morning Call | Ecuador Bets On A U.S. Security Push As It Trades Blows With
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