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CLP Outperforming LatAm Peers On Tuesday

CHILE
  • Seen a decent move lower in USDCLP (-0.85%) in recent trade to trade around 825. Following the strong reversal higher for the pair over recent sessions, the 20-day EMA, at 806.39, is the first support to watch.
  • The only headlines of note crossing the terminal which could be bolstering the peso are from emol.com and are related to the intention to reject a new pension withdrawal proposal:
  • The president of the Chamber of Deputies, Vlado Mirosevic (PL), discussed on Tuesday the imminent project to finalize a new withdrawal from pension funds, which could begin to be processed in April.
  • In an interview with Radio Universo, he maintained that the initiative will be put on the table, but with the aim that the idea be rejected as soon as possible so as not to "delude" a group of people with receiving the money from the AFPs.

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