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BCCh Economist Survey Expected At 1330BST

CHILE
  • Despite a 1.6% rally in copper prices yesterday, the Chilean peso was broadly unchanged against the dollar, with USDCLP closing at 920.8, having earlier in the session traded close to resistance at 926.62, the 50-day EMA. A bear trend in USDCLP remains intact and the latest recovery appears to be a correction, for now. Attention remains on 886.96, the 76.4% retracement of the Dec 1 ‘23 - Feb 26 bull leg.
  • Meanwhile, President Gabriel Boric is in Germany again today for the second day of his European tour focused on renewable energy and other investments. Yesterday, he said that the country is looking to diversify investments in the domestic lithium industry, after a meeting with German President Olaf Scholz in Berlin. He said that Chile needs investment from private companies in its push to double lithium output, adding that he values the interest that German companies have in investing in Chilean lithium.
  • On the data front, the BCCh will publish its latest economist survey at 1330BST(0830ET) today. This will be followed by the equivalent traders survey on Thursday, ahead of next week’s BCCh monetary policy meeting.

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