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BCCh Traders Survey Expected At 1330BST

CHILE
  • The Chilean peso outperformed yesterday following the soft US CPI data, aided by a rebound in copper prices. USDCLP fell by 0.64% to 916.6. For USDCLP, a bear trend remains intact and the earlier recovery appears to be a correction, for now. Important resistance at the 50-day EMA has been well respected and the average currently intersects at 926.07. For bears, attention remains on 886.96, the 76.4% retracement of the Dec 1 ‘23 - Feb 26 bull leg, a clear break of which would open 870.45, the Dec 29 low.
  • President Boric is on an official visit to Sweden today, before a Ukraine peace conference in Switzerland. On the data front, the BCCh will publish its traders survey at 1330BST(0830ET), ahead of next week’s MPC meeting.
  • The equivalent economist survey, published earlier this week revealed that analysts expect the central bank to further slow the pace of easing to 25bp next Tuesday, following the 50bp cut to 6% in May.

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