Regulator Critical On Pension Withdrawls, Activity Data Gives Early Boost To Peso

The nation's pension regulator Osvaldo Macias was critical of any further pension withdrawals in an interview with El Mercurio newspaper. He said, "a third pension withdrawal would a very bad public policy and any chance of that happening must be stopped.

• He added a pension reform is "more urgent than ever" and is hopeful of an agreement by March.

The annual figure for Economic activity came in stronger than the expected -2.3%. The result is further evidence of activity gradually recovering to pre-pandemic levels. USDCLP is opening 0.5% lower at 728.60, reflecting the better data and the bounce back in global indices.

A fairly light week on the domestic data front, should see Chilean assets dominated by broader themes in global markets.

With Silver breaking above $30 an ounce as the precious metal took centre stage, market participants will be monitoring any spill over effects in the commodity space amid the retail investor craze dominating the headlines and volatility.