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Boric, Marcel Speak At InvestChile Event Today

CHILE
  • The further rally in copper prices to record highs this week has supported the impressive recovery in the peso, which gained another 1.24% against the dollar yesterday. USDCLP closed below 905, its lowest since January 24. Sights are on 886.96 next, the 76.4% retracement of the Dec 1 ‘23 - Feb 26 bull leg. Initial key short-term resistance has been defined at 937.44, the 20-day EMA.
  • President Boric will speak at the inauguration of the InvestChile event at 1400BST(0900ET), followed by Finance Minister Marcel at 1510BST. Meanwhile, Mining Minister Aurora Williams and Cochilco Vice President Joaquin Morales will present the quarterly report on copper market trends at 1730BST.
  • On the macro front, no data are due today, with attention turning to the central bank’s traders survey of expectations due tomorrow. Focus thereafter will turn to first quarter GDP figures due next week.

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