The dollar in Chile fell $2.05, to close at $907.38 the exchange rate this Thursday, June 6, 2024, showing a very slight cut compared to the previous day. The international currency market was marked by the monetary policy decision of the European Central Bank (ECB) which cut its interest rate by 25 basis points to 4.25%.
On the other hand, during the day the price of copper rises 1.5%, which generates relief for the Chilean peso.
Fountain: The ECB makes an unprecedented rate cut, but gives no signals on its next steps
The US currency, for the moment, appears far from the highs reached this year ($988.70, on February 26), but also far from the lows ($879 at the beginning of 2024).
What analysts observe
“The decision of the European Central Bank boosted raw materialslike copper, and raised questions about the future actions of the United States Federal Reserve (Fed) and when the long-awaited rate reductions in that country will begin,” he said. Giovanny Pino market strategist XTB Latam. And he added: “Currently, the market expects these reductions to begin in September, with a probability of 58%, and to begin with a drop of 25 basis points, similar to that of the ECB.”
For its part, Felipe Sepulveda, Chief analyst at Admirals, noted that we will have the main data that could move the exchange rate coming from the international level tonight, with China’s trade balance and tomorrow with employment data from the United States.
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