Free Trial

Foreign Minister Attends Americas Partnership Economic Meeting

CHILE
  • Chile returns from a holiday on Wednesday, with scope for a soft open for CLP, given the further fall in copper prices yesterday and turn lower for major equity indices today. A sharp sell-off last week in USDCLP has reversed a recent bull cycle, but the pair has continued to broadly respect support at 908.75. A clear break would signal scope for an extension towards key support and a bear trigger at 881.73, the May 20 low. On the upside, initial resistance is at 929.63, the 50-day EMA.
  • Today, US Secretary of State Antony Blinken will host the Americas Partnership for Economic Prosperity foreign affairs ministerial meeting, which Chile's foreign minister is due to attend. Meanwhile, President Gabriel Boric is due to visit Paraguay where he will meet President Santiago Pena.
  • On the data front, no major data are due until June PPI next week. After that, June activity data will be published at the end of the month, just ahead of the July 31 BCCh MPC meeting, which looks set to be a close call between a further 25bp cut or a pause in the easing cycle.

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.