- USD/CLP loses 0.15% on the day.
- The Dollar Index (DXY) fell 0.32% following the release of US inflation data.
- Investors will be keeping an eye on China’s Industrial Production and Retail Sales data later today.
The USD/CLP reached a daily high of 933.98 as aggressive sellers pushed the pair to a low of 928.46. The US Dollar is currently trading at 930.00 against the Chilean Peso, losing 0.15% today.
Price of the Dollar in Chile today, Wednesday, August 14: The Chilean Peso gains ground due to the fall of the US Dollar
The USD/CLP resumes the short-term bearish trend, reaching two-day lows at 928.46. On the other hand, annual inflation in the United States rose 2.9% in July, showing an increase slightly lower than the 3.0% expected. Following these results, the Dollar Index (DXY) signs its fourth consecutive session on the decline and presents a fall of 0.23%, to trade at 102.38, reaching lows not seen since August 5.
After the market closes, China’s Industrial Production and Retail Sales for July will be released. Investors expect these results to reflect a short-term economic recovery, increasing demand for copper and other metals needed for industrial growth.
Technical levels in the USD/CLP
USD/CLP respected a key resistance zone at 960.00, the high from August 2. The first support zone is located at 904.90, which is confluent with the 23.6% Fibonacci retracement. The next key support level is at 881.85, the low from May 20. The Relative Strength Index confirms the selling pressure in the short term, standing at 43.65, below the 50 midline.
Chilean Peso Daily Chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
