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Markets Reopen Following Holiday, USDCLP Maintains Bullish Tone

CHILE
  • Markets in Chile will reopen following yesterday’s Feast of the Assumption holiday. Despite the likes of USDMXN and USDBRL opening lower on Wednesday, Tuesday’s weakness for copper futures may limit the upside for the Chilean peso today. USDCLP maintains a short-term bullish tone with topside focus on 868.38, the Dec 29 2022 high and 886.62, the 50.0% retracement of the Sep 26 ‘22 - Feb 3 bear leg.
  • The central bank traders survey will be published tomorrow before both current account and GDP figures cross on Friday.

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