MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

TRUDEAU SAYS IT LOOKS LIKE BOC WILL BE LOWERING RATE AGAIN

MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

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

CLP Remains On Front Foot Despite Lower-Than-Expected CPI

CHILE
  • The Chilean peso performed well yesterday, supported by the downtick in the broad US dollar and the further rise in copper prices. The peso rallied by 0.5% against USD, bringing USDCLP down to 944. Support to watch remains at 935.63, the Mar 15 low, a clear break of which would highlight a stronger reversal and signal scope for an extension towards 922.80 initially.
  • BBVA, however, continue to see pressure on the currency, as the low rates make the CLP more of a funding than a carry plan. With USDCLP also back around 940, a level where the cross bounced previously, they believe that asymmetry may be biased for a higher USDCLP from these levels.
  • On the data front, no macro data are due today, with the next release being tomorrow’s BCCh economist survey. Yesterday’s trade data showed that the trade surplus remains robust, with the one-year rolling balance coming in at $14.9bn. On the import side, although consumer goods imports are slowly recovering, capital goods imports stayed weak, suggesting that overall domestic demand remains soft. Going forward, Itaú expect exports to pick up, driven by mining exports, while energy imports are also set to rise. Overall, they expect a manageable CAD of just below 4% of GDP this year.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.