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Main Phase Of Presidential Campaigning Begins

CHILE
  • Chile's presidential candidates and political parties kick off the main phase of campaigning one month before the general election as the legal ban on ads is lifted.
  • Last night Fitch Affirmed Chile at 'A-'; Outlook Stable - https://www.fitchratings.com/research/sovereigns/f...
  • After gapping higher at the open, USDCLP spent the day consolidating these gains and the pair has held a firm support below 8.10 that may signal a resumption of the recent bullish trend. The focus is on 834.36, 76.4% of the Mar 2020 - May 2021 downleg. A break would open 841.17, May 6, 2020 high.
  • Chilean equities are "mimicking levels seen in the subprime crash, with valuations that are unjustified," a BTG Pactual analyst said in a report, noting strong levels of economic growth, record FDI and high commodity prices.
  • At 9am local time, Central Bank president Mario Marcel, participates in seminar titled "Women's Labor Market: Impact of the Pandemic, Recovery and Challenges".
  • Today's data: 1300BST/0800ET: Chile September PPI M/m, prior 2.7%, no estimate.

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