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September Unemployment, Production & Activity Data Due

CHILE
  • Several Chilean data points are due for release at 1300BST/0800ET:
    • Sept. Manufacturing Production YoY, est. -4.5%, prior -4.0%
    • Sept. Industrial Production YoY, est. -2.9%, prior -5.0%
    • Sept. Unemployment Rate, est. 8.0%, prior 7.9%
    • Sept. Chile Copper Production Total, prior 422,888
    • Sept. Commercial Activity YoY, prior -11.9%
    • Sept. Retail Sales YoY, est. -12.9%, prior -13.2%
  • USDCLP has traded sharply lower this week, extending away from its recent high of 992.13 (Oct 21). Despite the pullback, the outlook remains bullish and sights remain on key resistance at 996.97, the Sep 26 high.
    • The 50-day EMA, at 939.63, is a key support which has held as of writing. A clear break of the average would undermine the bullish theme and instead suggest scope for a deeper reversal.

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