MNI BRIEF: China To Tackle Local Gov Debt - MOF

MNI BRIEF: Local Govs To Use Bonds For Unsold Houses - MOF

MNI BRIEF: China Has Room For More Debt, Higher Deficit - MOF

MNI China Daily Summary: Friday, October 11

MNI: PBOC Net Drains CNY183.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.0731 Fri; +3.03% Y/Y

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.20B BSL

Economic Data Calendar 11/10/2024

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: USDCLP Falls 0.7% Following Softer US Data

CHILE
EM BulletBulletGlobalEmerging Market NewsRegion
  • The sharp 6% rally in copper prices this week amidst rising optimism for Chinese demand, continues to support the Chilean peso on Friday, which has also benefitted from softer-than-expected US PCE data.
  • USDCLP is down another 0.7% at 894 today, keeping the pair under the psychological 900.00 level and 6% below the Sept 10 high. The pullback in USDCLP has undermined the recent bullish theme and brought the pair below previous support at 904.48, the Aug 26 low, and 902.00, the Jul 11 low. Next support is seen at 881.73, the May 20 low.
  • On the local calendar, the latest round of economic activity data will be released on Monday, including retail sales and IP, ahead of trade and inflation figures, scheduled across October 7/8.
123 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 sharp 6% rally in copper prices this week amidst rising optimism for Chinese demand, continues to support the Chilean peso on Friday, which has also benefitted from softer-than-expected US PCE data.
  • USDCLP is down another 0.7% at 894 today, keeping the pair under the psychological 900.00 level and 6% below the Sept 10 high. The pullback in USDCLP has undermined the recent bullish theme and brought the pair below previous support at 904.48, the Aug 26 low, and 902.00, the Jul 11 low. Next support is seen at 881.73, the May 20 low.
  • On the local calendar, the latest round of economic activity data will be released on Monday, including retail sales and IP, ahead of trade and inflation figures, scheduled across October 7/8.