Free Trial

May PPI Data Expected At 1400BST

CHILE
  • CLP underperformed at the end of last week as copper prices fell by over 2% on Friday. USDCLP rose by over 1% to 942.7, its highest level since the end of April. USDCLP has recently traded above the 50-day EMA at 927.71, with scope seen for a climb towards 948.30, 61.8% of the bear leg between Apr 16 and May 20. However, the recent recovery is likely a correction. First support to watch lies at 900.00, the May 6 low.
  • On the data front, PPI inflation figures for May will be published at 1300BST(0800ET). In April, the producer price index rose by 3.0% m/m. In the week ahead, activity data for May will be released on Friday, including retail sales, industrial production and copper production.
    • PPI MoM, May; Prior 3.0%
  • In other news, Codelco has implemented contingency plans to transport metal from its El Teniente mine to port after a recent train collision. It also said that its Andina and El Teniente are operational despite recent heavy rain and snowfall.

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.