- USD/CLP loses 0.20% today.
- The Chilean Ministry of Finance will hold dollar auctions for up to 200 million dollars per week.
- Copper is trading higher, gaining 0.18% on the day.
The USD/CLP marked a daily high of 950.55, where aggressive sellers emerged and pushed the pair to a two-day low of 940.84. At the time of writing, the US Dollar is trading at 947.85 against the Chilean Peso, down 0.20% on the day.
Chile’s Treasury will auction up to $200 million weekly
Through the Budget Directorate, the Chilean Ministry of Finance announced that between September and December 2024, it will hold auctions for the sale of dollars for a total of up to 200 million dollars on a weekly basis. It should be noted that this amount is subject to modifications based on the market needs that arise.
Copper, on the other hand, has a marginal gain of 0.18% to trade at $4.07 per pound. The price of the metal has consolidated in a range between $4.13 and a lower limit of $4.00.
Technical levels in the USD/CLP
The USD/CLP reacted to the upside from a support located at 934.65, given by the low of September 6 in confluence with the 50% Fibonacci retracement. The next key support level is at 904.25, the low of August 27. The closest resistance is seen at 961.00, the pivot point of August 2. The Relative Strength Index is at 62.14, above the 50-point midline, showing the strength of the buying pressure with intentions to explore higher levels and reach the high of August 2 at 961.00.
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.
