- The US dollar gains 0.16% against the Chilean peso, reaching highs in a week and a half.
- Copper rises 1.35% on the day while consolidating in a sideways range.
- Non-Farm Payrolls increase by 254,000 in September compared to the expected 140,000
USD/CLP set a daily low at 912.79, attracting buyers who drove the pair to a more than one-week high at 925.83. At the time of writing, the US Dollar is trading at 904.84 against the Chilean Peso, up 0.16% at the start of the American session.
The Chilean Peso depreciates after the US Non-Agricultural Payrolls
Based on information presented by the US Department of Labor, Non-Farm Payrolls increased to 254,000 in September, far exceeding the 140,000 expected and the 159,000 presented in August. Following the publication of the news, the USD/CLP reacted higher, recording its fourth consecutive session higher.
On the other hand, copper has remained within a sideways range for the last six sessions between $4.6904 and $4.4645, gaining 1.35% today, to trade above $4.5623 per pound.
Technical levels in the USD/CLP
The USD/CLP reacted higher at support located at 894.25, the pivot point on September 30. The next key support is at 881.85, May 20 low.
To the upside, the nearest resistance is at 932.25, the September 18 high, close to the 50% Fibonacci retracement.
The Relative Strength Index has rebounded to 51.44, slightly above the midline of 50, with buyers taking control in the near term.
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.
