August 16, 2022 11:32 GMT
- USDCLP has pierced support last week through 884.75, Aug 1 low. A clear break would confirm a continuation of the current bear leg and open 853.40, the Jun 15 low.
- The firmer dollar, weaker copper prices and minor pressure on regional FX peers may prompt a slightly higher open for USDCLP as local markets reopen following the assumption day holiday.
- In the latest Cadem Survey, eight points separate rejection (46%, -1pt) from approval (38%, +1pt), while 16% remain undecided.
- If this result continues, 45% would approve the new text and 55% would reject it, where the narrowest scenario could be 48% versus 52%, considering the margins of error.