Free Trial

USDCLP Continues Pullback, USD Strength May Weigh On Peso

CHILE
  • USDCLP continues to pullback from 955.10, the Aug 22 high. The recent break of resistance at 921.33, Aug 5 high, signals scope for an extension higher. Attention is on 970.08, the Jul 22 high and the next key short-term resistance. Key support has been defined at 869.63, the Aug 12 low. A break of this level would be a bearish development.
  • BCCh Announced FX Intervention Volumes For Week Aug 29 - Sep 02:
    • Central Bank to sell $625m on spot market
    • Central Bank to sell $1b in new forwards
    • Central Bank to roll over $1.45b in forwards next week
    • Central Bank to buy $400m in fx swaps next week
  • The outcome of a 4 September vote on Chile’s new constitution could lead to social unrest which may cause logistical headaches for miners within the country. (Mining Journal)
  • Codelco’s CEO Octavio Araneda Oses will step down at CEO starting Aug. 29 due to personal reasons, the company said in a statement.
    • Andre Sougarret Larroquete to take over as CEO, Sougarret Larroquete is currently on medical leave and Alejandro Rivera Stambuk will serve as interim.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.