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USDCLP Maintains Bullish Tone, No Data Scheduled

  • There are no significant data releases this week in Chile, although the Central Bank may release its daily retail sales index for September on Thursday. Separately, President Gabriel Boric continues his state visit to China where he is expected to meet with business and political leaders.
    • Earlier today, Boric shared on X that within the framework of the state visit in China, “we announce from Beijing the large investment of the Tsingshan company to promote our National Lithium Strategy.” Boric continued that with employment, value chains and knowledge transfer, we advance in the development for Chile.
  • USDCLP maintains a bullish tone and the pair is trading just below last week’s highs. 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 956.45, the Nov 21 high. Key support is at the 50-day EMA - at 884.80. The 20-day EMA lies at 910.62.

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