Colombia’s Peso Holds Near 3,670 As COLCAP Regains Its Footing Ahead Of BanRep

Key Points

• USD/COP hovered around 3,669.6 per $1, with the day slightly firmer for the peso.
• The MSCI COLCAP traded near 2,506.43, recovering after a brief pullback from record highs.
• Markets stayed anchored to policy expectations, while global dollar sentiment remained the main swing factor.

Colombia’s peso and stocks opened January 29 with a steadier tone after a choppy midweek pause. USD/COP was quoted around 3,669.6 per $1 in early trade.

That left the pair modestly lower on the day, which means the peso was slightly stronger. Yet the weekly picture still shows a rebound in the dollar, with the week’s range running roughly from 3,614.0 to 3,701.5.

The charts explain the mixed message. The daily view remains trapped beneath a dense band of moving averages. That keeps rebounds looking corrective, not decisive.

The 4-hour view is calmer, with tighter swings and a small improvement in momentum. The weekly view still carries the weight of the longer downtrend, with momentum readings sitting in the mid-30s.

That combination often signals a market that is oversold, but not ready to flip. Key levels are clearer than the headlines. Support sits around 3,657–3,650 first, then near 3,614.

Resistance clusters around 3,684–3,700, with a higher ceiling near 3,745. A clean break above 3,700 would change the conversation. A break below 3,650 would reopen the path toward the lows.

Colombian equities looked healthier. The MSCI COLCAP traded near 2,506.43, up about 0.41% on the day. On the 4-hour chart, the index climbed about 1.18% as buyers stepped back in. The bigger story is trend strength.

The index remains well above its longer moving averages. Momentum is still elevated, but it is no longer accelerating. That usually points to consolidation risk, not immediate breakdown.

With Banco de la República’s January 30 decision close, investors are treating policy credibility as the main domestic anchor.

A firm stance supports carry and reduces fear of disorderly FX moves. For now, the peso is holding gains, while equities are still being rewarded for stability.

Top Winners

• COLCAP trend resilience
• Tactical peso strength on the day
• Policy credibility into January 30
• Dip buyers in Colombian equities
• Range traders benefiting from clearer levels

Top Losers

• USD/COP bulls above 3,700
• Late equity momentum chasers
• Short-term volatility hedges after the calm
• Breakout traders fighting moving-average caps
• Headline-driven positioning without confirmation

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.

Also tracking regional peers: Chile’s IPSA closed the same session.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error