The dollar was submerged under $ 930 this Friday, but the fall ended up vanished completely as the strategists made their last adjustments before tomorrow’s meeting in Switzerland, where representatives of the United States and China will talk about commerce.
The currency fell to $ 929 after 11:00 hours, but from there It was progressively moderated until closing at $ 937.21 and practically unchanged with respect to closure. The turn came in parallel with a fading of the gains of the US stock market. Anyway, The Chilean exchange rate fell $ 12.7 at a weekly levelaccording to Bloomberg data.
Weekend
The dollar came from closing yesterday with a strong fall, in the middle of a rally of Latin American currencies after signing a commercial negotiation frame between the US and the United Kingdom, with positive comments for Saturday’s meeting.
And while the positive expectation strengthened Chilean weight during this Friday, caution began to predominate the closureas observed by Aicapital’s senior economist, Cynthia Kirby. “If the noise begins from the meeting in Switzerland we could return to some volatility with a roof of $ 960. But I give less probability to this roof, rather a range between $ 920 and $ 935,” he said.
Kirby highlighted the fact that there is a “Favorable positioning to the Brazilian real and Chilean weight, which re -generates appetite for foreigners about these currenciesas we had seen a few months ago. “And He stressed that “Chile looks better in relative terms, with greater stability of inflation and fiscal imbalances, and less vulnerability to external commercial clashes.”
The objective of the US delegation led by the Secretary of the Treasury, Scott Besent, is disseminate commercial relations between both powerswhich have been marked by the imposition of triple digit tariffs.
Regarding the meeting, through his social Truth network, US President Donald Trump said Friday that “an 80% tariff to China seems adequate,” adding that in any case he will depend on Besent, and said that “China should open their market to the US.”
He dollar index Raised 0.2% and with it this indicator of the global dollar returned a small part of its profits on Thursdayday when he closed with his greatest rise since November, since the pact with the United Kingdom partially restored the confidence around Washington, also having a more restrictive federal reserve as a backdrop (a position that supports the green ticket).
Copper rebound
For its part, Copper Comex rebounded 1% to US $ 4.65 per poundafter China exceeded forecasts with an increase of 8.1% year -on -year in its April exports (versus the 2% estimate in the Bloomberg consensus) and a practically zero variation in imports (a 6% drop was expected).
“Copper prices remain quoting within a range, while markets expect the US decision on possible tariffs, which has already disturbed world trade, causing a Sustained fall of non -American inventories, especially in China, where demand remains strong “wrote the head of strategy of commodities The Saxo Bank, Ole Hansen.
To this he added that “a stable market is expected to be expected despite the concerns about the growth related to the commercial war, since the downward risks are counteracted by the limitations of the supply and firmness of the demand”, while it is feared that the accumulation of copper stocks in the US will leave the rest of the world short of this key transition metal.
