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CLP Moderately Firmer, President Boric’s Management Approval Wanes

  • After a very strong rebound for the Chilean peso last week, gains moderated late Thursday and into Friday’s session on risk aversion. Today’s more optimistic backdrop has seen USDCLP fall slightly in recent trade below 810. Initial support remains at the Mar 7 low of 789.00.
    • In the latest Cadem survey for the fourth week of March, 30% approve (-5pts) and 65% (+5pts) disapprove of President Gabriel Boric's management.
  • Chile Energy Minister Diego Pardow begins European trip about agreements to boost local green hydrogen production.
    • Pardow will hold meetings with his counterparts in the Netherlands, Belgium and Germany, as well as private firms in the energy and auto fields. He also seeks to strengthen future trade plans with the ports of Rotterdam, Hamburg and Antwerp, building on Chile’s previously signed Memorandums of Understanding.
  • Worth noting that congress will modify its calendar and set sessions to vote this week on security projects after the murder of a police officer, the second in two weeks, according to La Tercera.

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