CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

CHILE: USDCLP Falls 1.3% Amid Rally In Copper

CHILE
EM BulletBulletGlobalEmerging Market NewsRegion
  • The Chilean peso continues to outperform Tuesday, driven by a sharp 3% rally in copper prices today as risk sentiment has been buoyed by news of Chinese stimulus measures. Copper has now risen by almost 10% from its lows at the start of the month, to its highest level since July 16.
    • USDCLP has fallen by 1.3% to 910, its lowest since Aug 30.
    • The pull back in USDCLP from its latest highs has resulted in a move below both the 20- and 50-day EMAs. The sell-off undermines the recent bullish theme and a continuation lower would expose support at 904.48, the Aug 26 low, and 902.00, the Jul 11 low.
    • Attention tomorrow turns to the latest BCCh traders survey, including market participants forecasts for the interest rate outlook. Yesterday’s BCCh minutes suggested that the central bank is set to continue cutting at a 25bp pace for now.
145 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 Chilean peso continues to outperform Tuesday, driven by a sharp 3% rally in copper prices today as risk sentiment has been buoyed by news of Chinese stimulus measures. Copper has now risen by almost 10% from its lows at the start of the month, to its highest level since July 16.
    • USDCLP has fallen by 1.3% to 910, its lowest since Aug 30.
    • The pull back in USDCLP from its latest highs has resulted in a move below both the 20- and 50-day EMAs. The sell-off undermines the recent bullish theme and a continuation lower would expose support at 904.48, the Aug 26 low, and 902.00, the Jul 11 low.
    • Attention tomorrow turns to the latest BCCh traders survey, including market participants forecasts for the interest rate outlook. Yesterday’s BCCh minutes suggested that the central bank is set to continue cutting at a 25bp pace for now.