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CHILE: Finance Minister Highlights Progress Made On Pension Reform Discussion

CHILE
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  • Finance Minister Marcel has highlighted the progress made in the parliamentary discussion on the pension reform, saying that the elements to reach an agreement are all there, but that there needs to be some fine-tuning. Marcel said that he hopes the discussion will be settled in January, according to a report on Bloomberg. Meanwhile, CLP is trading marginally weaker against the dollar early on Monday, amid thin markets ahead of the Christmas market closures. A bull cycle in USDCLP remains in play, with attention on the psychological 1000.00 handle. Firm support is at 968.67, the 50-day EMA.
  • No macro data are due today, with just PPI inflation figures to cross this week, on Tuesday, ahead of November unemployment data on Dec 30 and month-end activity figures, including IP and retail sales, on Dec 31.
  • In other news, Codelco’s Chuquicamata mine has signed wage accords with five unions, according to Bloomberg. The accords with 3.400 workers last for 36 months, starting from June and September of next year, following talks that had begun at the start of this month.
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  • Finance Minister Marcel has highlighted the progress made in the parliamentary discussion on the pension reform, saying that the elements to reach an agreement are all there, but that there needs to be some fine-tuning. Marcel said that he hopes the discussion will be settled in January, according to a report on Bloomberg. Meanwhile, CLP is trading marginally weaker against the dollar early on Monday, amid thin markets ahead of the Christmas market closures. A bull cycle in USDCLP remains in play, with attention on the psychological 1000.00 handle. Firm support is at 968.67, the 50-day EMA.
  • No macro data are due today, with just PPI inflation figures to cross this week, on Tuesday, ahead of November unemployment data on Dec 30 and month-end activity figures, including IP and retail sales, on Dec 31.
  • In other news, Codelco’s Chuquicamata mine has signed wage accords with five unions, according to Bloomberg. The accords with 3.400 workers last for 36 months, starting from June and September of next year, following talks that had begun at the start of this month.