- The US Dollar falls marginally 0.01% against the Chilean Peso, remaining within the operating range of the previous session.
- Copper falls 1.96% on the day, reaching two-day lows.
- Investors will focus on the Central Bank of Chile’s interest rate decision, to be published on Thursday.
USD/CLP established a daily high at 930.26, where it found sellers that took the cross to a daily low at 926.60. At the time of writing, the US Dollar is trading at 926.60 against the Chilean Peso, losing slightly 0.01% at market close.
Chilean peso trades unchanged while copper hits two-day lows
Copper resumed the bearish trend, falling 1.96% today from a session high of $4.4425, where it attracted aggressive sellers that weighed down the price to reach lows not seen since October 10 at $4.3577 per pound.
On the other hand, the Chilean peso did not register significant variations today, remaining within the operating range of the previous session. Investors will be watching the interest rate decision due on October 17. The Central Bank of Chile is expected to cut 25 basis points and place rates at 5.25%.
Technical levels in the USD/CLP
The USD/CLP reacted lower at a short-term resistance located at 936.75, given by the October 9 high in convergence with the 50% Fibonacci retracement. The next key resistance zone is at 951.88, September 10 high.
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.
