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US TSY FUTURES

BLOCK, 5Y Sale

PERU

Castillo Narrowly Avoids Impeachment Motion

US EURODLR OPTIONS

Overnight Trade Recap

BOE

BNP expect 15bp December hike

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  • A very weak start on Thursday for Chilean asset prices as both the currency and the local equity indices continue their decline following the surge higher on Monday.
  • 829.90 in USDCLP represents Friday's closing price and would need to trade for the gap to be filled. With directional triggers well defined a breach of resistance at 842.25 would be needed to confirm a resumption of bullish conditions, opening 850.00 and further out 878.86, the Mar 19, 2020 high.
  • Another 1% fall for the IPSA index adds to the over 5% decline from Monday's peak.
  • Despite the powerful price action to start the week, political uncertainties relating to the ongoing constitutional re-write may be giving investors reason to remain cautious.
  • No further data is due this week, however a slew of releases are scheduled for the middle of next week, including October economic activity. The next BCCh meeting is due December 14.

MNI/Bloomberg