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September Trade Data, BCCh Costa In Morocco

CHILE
  • Headlining the LatAm economic calendar on Tuesday will be Chilean trade figures for September where data is likely to show lower exports and imports. That would suggest activity and domestic demand were still weak in the third quarter. Faltering growth in China and negative terms of trade due to lower copper and higher oil prices are drags. The trade surplus is expected to have widened to 950 million, compared with a $586 million surplus in August and a $163 million deficit a year earlier. Data is due at the bottom of the hour:
    • Sep. Trade Balance. Est. $950m, prior $586m
    • Sep Exports total. Prior $7.936b
    • Sep. Copper Exports; prior $3.705b
    • Until Oct. 14: Central Bank President Rosanna Costa is attending Annual Meetings of the World Bank and IMF in Marrakech, Morocco.
  • USDCLP maintains a bullish tone and the pair last week breached 912.45, the Sep 27 high. Moving average studies are in a bull-mode position and a positive price sequence of higher highs and higher lows remains intact. Scope is seen for a climb towards 926.51, the Nov 28 high, and 944.89, the 76.4% retracement of the Sep 26 2022 - Feb 3 bear leg.
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