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President Boric To Comment On Venezuelan Electoral Situation

CHILE
  • After a strong opening yesterday amidst the sell-off in risk assets, USDCLP pared gains over the course of the session, to close just 0.37% higher at 954. From a technical perspective, attention is on key short-term resistance and a bull trigger at 956.73, the Jun 27 high. It has been breached and a clear break would confirm a resumption of the bull cycle and open 990.67, the Feb 26 high. Key support has been defined at 929.78, the Aug 1 low.
  • Today, President Boric will comment on the Venezuelan electoral crisis following Monday’s state visit by Brazilian President Lula. On the data front, no macro figures are due, with focus turning to July trade tomorrow and then July CPI data on Thursday. Consensus there is for the headline inflation rate to edge up to 4.4% y/y, from 4.2%.
  • Meanwhile, data released late yesterday showed that vehicle sales rose to 25,087 in July from 22,567 in June, according to the National Automotive Association of Chile.

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