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Dlar ends with a rise of 2.30 USD per global currency
Monday 29 October 2018
Economy and Trade Online
ValorFuturo
The Chilean dollar started the week up, reversing the trend of the early hours and pushed by the performance of the currency at the global level.
More specifically, the US dollar rose Monday $ 2.30 on the Chilean interbank market, closing at $ 690.00 the purchase and $ 690.30 the sale, in a day during which transactions have US $ 1,400 million, up US $ 375 million from last Friday's session.
Although the dollar started the day with a slight upward appreciation of emerging currencies due to the good performance of commodities, the trend changed in the middle of the morning when some US data was known and before the good performance of the stock market of this country.
In this line, the 1.64% rise had copper on Monday at the London Metal Exchange (LME), up to 2 83949 USD a pound, and the expected victory of Jair Bolsonaro in the second round of the presidential election in Brazil could not thwart the strength of the dollar on the outside.
"The triumph of Jair Bolsonaro in Brazil This finally had a temporary effect during the day because the badets had incorporated a possible victory.In all cases, we must wait for the development of its economic plan", said Csar Valencia, Analyst at Alpari Research & Analysis.
Bci Corridor of Bolsa stresses that "the high volatility of the Chilean peso is evident in 2018, only surpbaded by the variation recorded between the subprime crisis of 2008 and the European crisis of 2011. The local currency has a similar volatility to the other currencies of the region, in a context of greater dislike for emerging economies ".
Added to this is that personal consumption expenditure in the United States (PCE, its acronym in English) increased by $ 53,000 million, or 0.4%, in September, which is higher than expectations, which will allow rate increases from the Federal Reserve (Fed) follows the announced price.
"In total, the economic fundamentals will lead to a decline in the exchange rate, which will rise to US $ 660 / next December and US $ 640 / US $ in 2019. This is a moderation of external tensions, which will lead to a rise in the prices of risky badets, including the price of copper, although the risks of this projection scenario are skewed downwards, "says Bci.
"In this grateful scenario, the next resistance stands at $ 693 and support at $ 683," added Alpari Research & Analysis.
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