The week ends hectic in the Chilean exchange market, with a jump of $17.31, which placed the dollar at $934.80 in the local market. The Chilean peso was dragged by a sharp rise in the dollar index (DXY) internationally, that this Friday June 14 rose 0.3% intraday.
“For now, It will be important to take into account next week’s economic datawhere the meeting of the Central Bank of Chile on Tuesday stands out, and where we will be able to know if they will continue to lower interest rates or not,” he said. Felipe Sepulvedachief analyst of Admirals.
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In that sense, the executive indicated: “We could see the exchange rate break the $935 barrier with the next target at $950. Otherwise, if we see that the Central Bank decides to maintain the rate, perhaps see the price of the dollar in Chile between $900 and $915 again.
Dollar today in ChileToru Hanai/Bloomberg(Bloomberg/Toru Hanai)
In addition, Gonzalo Muñoz, market strategist XTB Latampointed out that the path that copper, Chile’s main export input, has been taking is linked to the depreciation that the peso suffered today: “Despite the optimistic expectations of demandcopper has not managed to maintain the upward trend it had had in recent months. Today, the industrial sector fell in aggregatewhich generated lower short-term expectations”he explained.
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