Firmer CPI, Street Protests

*Chile Jan. CPI rise 0.7% m/m; est. +0.5% bbg

*Chile Jan. CPI rise 3.1% y/y; est. +2.9% bbg

*Chile posts $1.740 billion Jan. Trade Surplus vs $1.423 billion in December. bbg

Slightly higher than expected CPI figures released this morning with a greater trade balance surplus than the prior. Focus this week - the central bank will publish the minutes from the January 27 Monetary Policy Committee (MPC) meeting on Thursday, February 11.

In line with Bloomberg dollar index gains and USDMXN up around 0.75%, USDCLP has opened 0.3% firmer ~740. Attention remains on 751.20, the Jan 13 high, with initial support at 725.66, Feb 1 low.

Local News -

• Buildings were burned during protests in a town in southern Chile on Friday, as angry demonstrators reacted to the fatal police shooting of a street juggler. News reports indicated that several government buildings were among those set afire.
• There were also confrontations between protesters and the police in the capital, Santiago, hundreds of miles north of Panguipulli. People across Santiago expressed anger over the shooting by banging on pots and pans, a ritual for airing public discontent.