Oil prices, main export of Colombia, are trending downwards amid uncertainty stemming from a potential escalation in the Middle East conflict.

The price of the dollar in Colombia closed the day above $3,880, in a week that will be filled with economic data and corporate earnings, in addition to the Spring Meetings of the International Monetary Fund, which could influence global discourse. Investors are showing concern over the Middle East following Iran’s attacks on Israel over the weekend.

On Saturday, the impact was severe on cryptocurrencies, which were the only markets open while the rest remained closed. Since the attack did not have major consequences, as long as it remains calm, the situation is expected to stabilize.

The currency ended with an average price of $3,889.62, $24.65 above the Representative Market Rate, which stands at $3,864.97 for today. A maximum price of $3,881.90 and a minimum of $3,846.65 were recorded. A total of 1,903 transactions were conducted for $1.131 billion.

The market had its focus on retail sales in the United States. This data was released, and according to official figures, sales increased more than expected in March, with the previous month being revised upward, indicating resilient consumer demand that continues to drive a surprisingly strong economy.

The value of retail purchases, not adjusted for inflation, rose 0.7% from February, as shown by data from the Department of Commerce on Monday. This matched the highest estimate from a survey of economists. Excluding automobiles and gasoline, sales increased by 1%.

Sales from the so-called control group, used to calculate GDP, rose by 1.1%, the largest increase since early last year. The measure excludes food services, car dealerships, building materials stores, and gas stations. This is likely a good sign for first-quarter GDP, especially after the February reading was revised upward.