Dlar closes with a slight increase of $ 0.10 after each news in the price of copper

Dlar closes with a slight rise of $ 0.10 after the nine each in the price of copper

Friday, July 6, 2018

Economic Affairs and Online

Future Value

The Dollar in Chile closed this Friday with a further rise, pushed by the price of copper, which became grudge after the "formal" start of the so-called "trade war" between the United States and China.

Specifically, $ 0 escalator $ 0, 10 currency on the interbank market in Chile, closing at $ 656.60 buyer and $ 656.90 seller.

During the day, there were transactions for 890 million US dollars, 530 million US dollars less than the previous one.

The currency responded to various data and facts of interest that were given during the day, beginning with the official statement of a trade war between the United States and China, which began with the coming into force of the commercial rates previously announced by Donald. Trump, worth $ 34 billion in the nolgico technology sector, to which Beijing immediately responded proportionately.

This had consequences for the price of copper, the price of which fell further during the current session on the London Metal Exchange (-1.15% to 2 US $, 86943 / lb in LME), which encourages further increases in the dollar.

"New bullish day in the local exchange rate, is reproduced in the rest of the currencies of the region.The uncertainty badociated with the implementation of tariffs by the US and China, has caused capital outflows from emerging economies and generated a loss of value in the metal raw materials.The two factors will be behind the depreciation observed in the Peso during the last days, "explain Bci Estudios.

Similarly, early data from the Chilean CPI for June were known, which recorded a 0.1% increase, slightly weaker than expected, which did not leave any clear signals for the market when the Central Bank of Chile (BCCh) began to increase the MPR.

Another data, which had no major repercussions, on non-agricultural jobs created in the United States, which in June reached 213,000 new jobs, a figure higher than what the market was waiting for .

"We feel that the phenomenon has been fleeting in recent days, to observe convergence towards our fundamental scenario, leading to lower levels of parity.With this, we maintain our vision of an exchange rate that converges towards CLP 620 / USD at the end of the year, a level consistent with a copper price of US $ 3.20 / lb, "badured Bci.