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CHILE: Finance Minister Marcel, BCCh’s Costa Speak, September Unemployment Due

CHILE
EM BulletBulletGlobalEmerging Market NewsRegion
  • USDCLP closed marginally lower at 947 yesterday, keeping the pair below resistance at 951.80, the Sep 10 high. A bull cycle in USDCLP remains in play, however, and the pair is holding on to the bulk of its recent gains, despite the latest pullback. Having breached the aforementioned resistance last week, attention is on the 960.00 handle next, ahead of 966.61, the Aug 5 high and a key short-term resistance. Initial firm support lies at 932.59 the 50-day EMA.
  • On the data front, unemployment data for September will be published at 1200GMT(0800ET), with analysts expecting the unemployment rate to remain unchanged at 8.9%.
    • Sept. Unemployment Rate, est. 8.9%, prior 8.9%
  • Meanwhile, Finance Minister Mario Marcel is scheduled to speak in Santiago at an event on the country’s public finances from 1130GMT(0730ET). Separately, BCCh President Rosanna Costa is due to speak at an event at 1500GMT(1100ET).
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  • USDCLP closed marginally lower at 947 yesterday, keeping the pair below resistance at 951.80, the Sep 10 high. A bull cycle in USDCLP remains in play, however, and the pair is holding on to the bulk of its recent gains, despite the latest pullback. Having breached the aforementioned resistance last week, attention is on the 960.00 handle next, ahead of 966.61, the Aug 5 high and a key short-term resistance. Initial firm support lies at 932.59 the 50-day EMA.
  • On the data front, unemployment data for September will be published at 1200GMT(0800ET), with analysts expecting the unemployment rate to remain unchanged at 8.9%.
    • Sept. Unemployment Rate, est. 8.9%, prior 8.9%
  • Meanwhile, Finance Minister Mario Marcel is scheduled to speak in Santiago at an event on the country’s public finances from 1130GMT(0730ET). Separately, BCCh President Rosanna Costa is due to speak at an event at 1500GMT(1100ET).