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Chilean Economic Activity Marks the Calendar Highlight

  • The greenback is generally stronger headed through to the Monday session, with volumes and activity expected to lighten into the second half of the session as the US sees an early pre-holiday close. Oil trades firmer, with WTI crude futures firmer by close to 1% as Saudi Arabia extended a voluntary 1mln bpd output cut, compounded by a similar subsequent move from Russia.
  • Meanwhile, trade concerns surrounding China remain elevated after export bans were installed on the selling of key chip source materials Germanium and Gallium.
  • Data released late Friday showed tax revenue for the January – May period rose by 3% on a Y/Y basis, however on a total revenue basis, the same period saw a fall of 0.4%, with oil revenues dropping 24.2%.
  • Late on Friday, Colombia’s Banrep Colombia's Banrep keep rates unchanged at 13.25%, as expected. Villar confirmed that the decision itself was unanimous among policymakers, again alongside forecast. Today marks a market holiday in Colombia.
  • Peruvian inflation data released Saturday shows Lima CPI at -0.15% M/M vs. Exp. +0.2%, Y/Y at 6.46% vs. Exp. 6.92%.
  • Economic activity data is due from Chile, with May M/M Exp. at -0.8%, and Y/Y at -1.7%. The figures are set for release at 1330 UK time / 0830ET.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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