MNI BRIEF: Investors Mortgaging Record Share of Canadian Homes

AUGUST FLASH RETAIL SALES +0.5%, STATISTICS CANADA SAYS

MNI: Canada Retails Show Q3 Strength As BOC Mulls Pace Of Cuts

MNI China Daily Summary: Friday, September 20

MNI BRIEF: China's August Electricity Growth Up 8.9% Y/Y

CHINA PRESS: Foreign Bond Holdings Up In August

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 488; GAS RIGS 96

EZ/UK Bond Supply Calendar: ESM Upcoming Synd; EU, BE On Mon

MNI: CANADA AUG INDUSTRIAL PRICES -0.8% MOM; EX-ENERGY -0.2%

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CHILE: Codelco Reaches Wage Agreement At EL Teniente Division

CHILE
EM BulletBulletGlobalEmerging Market NewsRegion
  • The rebound in copper prices yesterday buoyed the Chilean peso, which gained by 0.69% against the dollar. USDCLP closed at 942, above first support at 932.37, the 20-day EMA. On the upside, focus is on 953.93 next, the Aug 6 high.
  • No macro data are due today, with the next release in the calendar scheduled to be August PPI figures on Sept 24. These will be followed by the next BCCh traders survey and then month-end activity data for August. To recap, the recent BCCh economist survey showed that analysts are expecting the central bank to deliver another 25bp rate cut to 5.25% in October, followed by a further 25bp reduction at the December MPC meeting.
  • In other news, Codelco said that it had reached an early wage agreement at its El Teniente division, removing the risk of disruption at the mine. The new collective agreement will be valid for three years from Nov 1 and will introduce labour practices that aim to increase the division’s productivity.
165 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • The rebound in copper prices yesterday buoyed the Chilean peso, which gained by 0.69% against the dollar. USDCLP closed at 942, above first support at 932.37, the 20-day EMA. On the upside, focus is on 953.93 next, the Aug 6 high.
  • No macro data are due today, with the next release in the calendar scheduled to be August PPI figures on Sept 24. These will be followed by the next BCCh traders survey and then month-end activity data for August. To recap, the recent BCCh economist survey showed that analysts are expecting the central bank to deliver another 25bp rate cut to 5.25% in October, followed by a further 25bp reduction at the December MPC meeting.
  • In other news, Codelco said that it had reached an early wage agreement at its El Teniente division, removing the risk of disruption at the mine. The new collective agreement will be valid for three years from Nov 1 and will introduce labour practices that aim to increase the division’s productivity.