Chilean peso is surging at the open and is the best performing EM currency today. The move is a response to yesterday’s announcement from the Central Bank of Chile that it will intervene on the FX market to prevent further depreciation of the currency. Industrial production data from the country was released at 12:00 pm GMT and it showed a decline of 3.4% YoY while market expected a decline of 6% YoY. It should be noted that social unrest started in mid-October therefore the data reflects half a month of protests and their damage on the economy. As one can see, the impact of the unrest is not as big as markets feared.
USDCLP opened over 3% lower on Friday. The pair trades lower as investors are delighted to see industrial production declining less than expected and central bank taking action on the FX market. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
