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USDCLP Remains In A Bearish Corrective Cycle

CHILE
  • CLP trades with a marginally offered tone to start Thursday, however, the peso is consolidating a strong performance throughout 2022. Firmer copper prices and a weaker dollar are the latest contributing factors supporting the recovery. 818.65, the Dec 1 low remains the nearest level of note.
  • The government pushed ahead with contracts to tap more of the world’s biggest lithium reserves, awarding two of the five contracts on offer, raising harsh criticism from President-elect Gabriel Boric and other opposition groups seeking to halt the bidding process.
  • Boric attends Enade 2022 closing ceremony at 12pm local.

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