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USDCLP Back Above 800, Trade Balance & Nominal Wage Data Due

CHILE
  • USDCLP rose back above 800 on Wednesday as risk sentiment weighed on regional currencies and market analysts continue to highlight President Boric’s waning approval ratings. Additionally, the continued decline in support for the new constitution is likely to pose additional upcoming headwinds for the nation.
  • Upcoming data:
    • 1330BST/0830ET: Chile March International Reserves, prior $50.2b
    • 1330BST/0830ET: Chile March Trade Balance, prior revised $246m
    • 1400BST/0900ET: Chile Feb. Nominal Wage YoY, prior 7.5%
  • Additionally, March CPI data will be released on Friday with the annual headline figure expected to rise to 8.7% from 7.8% in February.

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