Free Trial

USDCLP Rises To Highest Since April, Amidst Global Risk-Off Move

CHILE
  • The global sell-off in risk assets and associated further 2% fall in copper prices today continues to support USDCLP, which remains ~1.0% higher on the day around 960. The pair opened as high as 966.61, the highest level since April 19, before paring some of the move.
  • Attention is on key short-term resistance and a bull trigger at 956.73, the Jun 27 high. It has been breached, and a clear break would confirm a resumption of the USDCLP bull cycle and open 990.67, the Feb 26 high.
  • To recap, President Boric will meet with President Lula today and tomorrow, while on the data front, focus this week will be on July CPI figures on Thursday, where analysts expect an uptick in headline inflation.

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.