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Re: Chile Peso 2018, Starts at 605.50

Posted: Sat Jan 06, 2018 10:32 pm
by jehturner
Space Cat wrote:
Fri Jan 05, 2018 10:46 am
I hope to compensate for my exchange rate losses by investing in Chilean companies. At least the next couple of years should be great.
Yes, I would probably have bought the MSCI Chile ETF last year if they had finished discussing adding ETFs to our pension scheme... :(.

Re: Chile Peso 2018, Starts at 605.50

Posted: Sun Jan 07, 2018 12:30 pm
by admin
Seems everyone thinks next week we will break 600:
https://www.df.cl/noticias/mercados/div ... 41443.html

and a 3.2% reading on the economy for November:
https://www.df.cl/noticias/economia-y-p ... 83239.html

seems to be a fairly broad economic expansion taking hold. Not just mining.

599 pesos to the dollar broken

Posted: Mon Jan 15, 2018 9:29 am
by admin
There she blows. 599.90 was hit.
https://www.df.cl/noticias/mercados/div ... 83419.html

We broke 600, now let's see if it will stick. I suspect we have a bit more bouncing above and below the line to come, but once it stabilizes we should see a lot more under 600 days.

Re: Chile Peso 2018, Starts at 605.50

Posted: Thu Jan 25, 2018 11:49 am
by admin
Will it stick?

1 USD = 599.592 CLP

Re: Chile Peso 2018, Starts at 605.50

Posted: Thu Jan 25, 2018 11:58 am
by scandinavian
More than the peso being strong, it is the dollar going down. Check comparison with EURO for example.

Re: Chile Peso 2018, Starts at 605.50

Posted: Thu Jan 25, 2018 1:05 pm
by eeuunikkeiexpat
Dollar hit a new three year low.

USDI future now at 88.41 after hitting 88.25 earlier. As a reference, any break below 89-90 gets peoples attention.

Re: Chile Peso 2018, Starts at 605.50

Posted: Thu Jan 25, 2018 1:47 pm
by admin
Fmi just upgraded the gdp to 3.2% for 2018.

New economy minister is calling for 3.5% for 2018 and 3.5 to 4% for the rest of the pinera administration.

Stock market is up about 5% so far this month.

Copper was up to after a few down days.

Re: Chile Peso 2018, Starts at 605.50

Posted: Thu Jan 25, 2018 5:47 pm
by HybridAmbassador
Well right after treasury secretary Mnuchin said, a weak Dollar is good for the US, majour currency seen strengthening against Dollar.



Treasury Secretary Steven Mnuchin said the U.S. is open for business and welcomed a weaker dollar, saying that it would benefit the country.

Speaking at a press conference at the World Economic Forum in Davos Wednesday, he made a bid for investment into the U.S., saying the government was committed to growth of 3 percent or higher.

"Obviously a weaker dollar is good for us as it relates to trade and opportunities," Mnuchin told reporters in Davos, according to Bloomberg, adding that the currency's short term value is "not a concern of ours at all."

"Longer term, the strength of the dollar is a reflection of the strength of the U.S. economy and the fact that it is and will continue to be the primary currency in terms of the reserve currency," he said.

On the eve President Donald Trump's arrival at the event, he said that the U.S. delegation to Davos was its largest ever. "(The) size of the delegation to Davos this year is testament to the scale of Trump's work over the past year," Mnuchin said.

"What's happening in the U.S. (is a) reflection of programs being put in place. As we look at U.S. growth, it continues to look quite good and is a very attractive place to invest," he added.

The dollar dipped slightly after his comments and hit a session low, with the dollar index slipping 0.47 percent for the day. The British pound climbed to a post-Brexit vote high shortly after 8:30 a.m. London time.

Mnuchin iterated that his country is "absolutely" committed to free and fair trade, according to the Associated Press. He added that strong U.S. growth was good for the economy and that there was no inconsistency with Trump's "America First" agenda, according to the news agency.

—Reuters contributed to this report.

Re: Chile Peso 2018, Starts at 605.50

Posted: Wed Feb 07, 2018 2:48 pm
by admin
in spite of the recent dollar strength with the little stock market burp this week, the peso continues to follow the strength of copper.

Have not seen this in a while:

1 USD =597.045CLP

Re: Chile Peso 2018, Starts at 605.50

Posted: Wed Feb 07, 2018 3:00 pm
by eeuunikkeiexpat
No this is puzzling because the USD is back above 90 on USDX and copper is down near the 3.09 level and far off it's 3.20ish highs on the futures. Looks like CLP needs to weaken 1% or more.

Re: Chile Peso 2018, Starts at 605.50

Posted: Wed Feb 07, 2018 6:24 pm
by admin
eeuunikkeiexpat wrote:
Wed Feb 07, 2018 3:00 pm
No this is puzzling because the USD is back above 90 on USDX and copper is down near the 3.09 level and far off it's 3.20ish highs on the futures. Looks like CLP needs to weaken 1% or more.
Not sure, but of all the EM markets that took a hit this week, Chile did not do too bad. Bounced up and down a couple of percent, and is pretty much where it started the week.

Re: Chile Peso 2018, Starts at 605.50

Posted: Thu Feb 08, 2018 4:58 pm
by admin
Guess once all the VIX triple shorts, triple long, reversed, standing on your head traders left the building, and stopped suppressing the market volatility, things got wild.

I have been waiting for the fed raising interest rates to pop this bubble. Anytime you start hearing a steady drum beat of morons in the market saying "this time is different", you know you can make some easy money on this time not being different.