October 25, 2024 11:09 GMT
CHILE: Focus On Municipal, Regional Elections This Weekend
CHILE
- USDCLP ended yesterday’s session broadly unchanged around 947, after initial losses were unwound. A bull cycle in USDCLP remains in play, however, and the pair is holding on to the bulk of its recent gains. The pair has breached resistance at 951.80, the Sep 10 high, this week, exposing the 960.00 handle, ahead of 966.61, the Aug 5 high and a key short-term resistance. Initial firm support lies at 931.33, the 50-day EMA.
- No macro data are due today, with focus ahead turning to this weekend’s two-day municipal and regional elections, which will be a bellwether for next year's presidential vote. Next week brings a busier data calendar, with September unemployment due on Tuesday and month-end activity data for September, including retail sales, IP and copper production, scheduled for Wednesday.
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