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CHILE: August Trade Data Expected, Chile Day Event In London

CHILE
  • The slide in copper prices on Friday weighed on the Chilean peso, which fell slightly against the dollar to close around the 944 level. Today’s rebound in copper may provide a tailwind, but for USDCLP, the rise above resistance at 940.53, the Aug 16 high, opens 953.93 next, the Aug 6 high. First support is at 927.85, the 20-day EMA.
  • On the data front, August trade figures will be published at 1230BST(0730ET), with the market expecting the monthly trade surplus to widen slightly to $1.6bn. Latest international reserves data will also cross at the same time, along with copper exports numbers for August.
    • Aug. Trade Balance, est. $1.73b, prior $1.3b
    • Aug. International Reserves, prior $45.5b
    • Aug. Copper Exports, prior $4.16b
  • Separately, the Finance Ministry and Inbest Chile are holding a Chile Day event in London, which seeks to promote and position the country’s financial market as an investment destination.

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