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May Unemployment Rate Data, Marcel at Chile Day In Toronto

CHILE
  • The National Institute of Statistics will publish unemployment data for the three months to May; the surveyed median average estimate is that it rose to 8.8% from 8.7% in the prior reading.
  • Chile Day continues in Toronto, with the full agenda accessible here: https://www.inbest.cl/chileday/en/agenda/Agenda%20Chile%20Day%20NY-Toronto%202023.pdf
  • As well as the presence of Finance Minister Mario Marcel, it is worth noting that Deputy Governor of the Central Bank of Chile, Pablo García will be speaking on “Enhancing Resilience Through Macroeconomic Adjustment”.
  • Additionally, at 11am local time, BCCh board member Luis Felipe Cespedes is expected to present the most recent IPOM monetary policy report in Valparaiso.
  • On Wednesday, USDCLP rose 0.3% and broadly continues to oscillate either side of 800, with the pair remaining in consolidation mode and respecting its short-term technical parameters.
  • Production and retail sales data will cross Friday, but the market attention will quickly turn to economic activity (Imacec) and fresh CPI data next week.

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