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Cadem Survey Shows Growing Rejection For New Plebiscite

CHILE
  • The most recent Cadem survey shows that 59% would vote ‘against’ in the constitutional plebiscite and only 21% would vote in favour, which represents the lowest level since March. However, 64% agree that Chile needs a new Constitution and among the conditions that could mobilize the vote in favour are if the text gives stability to the future of the country.
  • Combining this development with the latest risk off backdrop, USDCLP may once again test the 900 level as the path of least resistance remains upward for the pair. President Gabriel Boric holds a cabinet meeting on Monday about the nation’s 2024 budget days before its presentation to Congress. The central bank will release its latest survey of traders on Tuesday. August production/activity data will cross on Friday.

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