Andeans Macro Daily(Beta Mode)
Andean Currencies Firm on Commodity Mix
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 40.18 | +0.98% |
| MSCI Peru | 81.81 | +0.43% |
| USD/COP | 3,691.31 | -0.30% |
| USD/CLP | 909.42 | -0.80% |
| USD/PEN | 3.42 | -0.31% |
| Copper | 5.72 | -0.06% |
| Gold | 4,972.60 | -0.57% |
| Brent Crude | 103.88 | +0.44% |
| Bitcoin | 73,833.02 | -0.12% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | -3.02% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
USD/CLP Exchange Rate | Type: market_hloc | USD/CLP: 909.4 (2026-03-17) | Range: 852.4–917.4 | Trend(6pt): 917.4,894.6,865.9,866.4,916.7,909.4
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Andean currencies appreciated versus the USD, led by CLP at -0.80% to 909.42, PEN at -0.31% to 3.42, and COP at -0.30% to 3,691.31, amid stable export drivers.
- Equity indices mixed with MSCI Chile up 0.98% to 40.18 and MSCI Peru gaining 0.43% to 81.81, while MSCI Colombia flat at 9.02.
- Commodities varied as Brent crude rose 0.44% to 103.88, copper dipped -0.06% to 5.72, gold fell -0.57% to 4,972.60, and Bitcoin eased -0.12% to 73,833.02.
Yesterday's Recap
Andean markets exhibited stability yesterday despite global commodity shifts, with currencies gaining against a softer USD. Chile's MSCI index advanced 0.98% to 40.18, underpinned by copper holding at 5.72 after a slight -0.06% decline, as BHP announced Brandon Craig as new CEO with a copper focus, and Red Metal linked with Chalice Mining for copper-gold exploration. Peru's MSCI index increased 0.43% to 81.81, supported by copper trends and news of a vacation rental boom involving Peru, though mining royalty concerns persisted.
Colombia's MSCI remained unchanged at 9.02, helped by Brent crude's 0.44% rise to 103.88, offsetting border tensions with Ecuador where President Petro accused the neighboring government of incursions leading to charred bodies near the frontier. FX appreciation included USD/CLP down -0.80% to 909.42, USD/PEN -0.31% to 3.42, and USD/COP -0.30% to 3,691.31, easing import pressures. Chile's short-term rate fell -3.02% to 4.50%, indicating continued monetary easing.
Gold's -0.57% drop to 4,972.60 had minimal effect on Peru's output, while the empty economic calendar shifted attention to these external factors.
The Day Ahead
No economic data releases are scheduled for the Andean region today, directing focus to commodity movements, especially copper for Chile and Peru, and oil for Colombia. Updates on Chile's border barrier under President Kast, initiated shortly after his term began, may affect regional trade views and CLP fluctuations. BHP's copper emphasis could influence Peru's mining sentiment and PEN performance amid global demand cues.
Broader LatAm news, like U.S.-backed railway expansions involving Mexico and Brazil with potential ties to Peru, might signal infrastructure opportunities. U.S. economic fragility reports could sway USD pairs, amplifying Andean asset responses in a low-event environment.
Other Economic Notes
Andean economies remain tied to commodities, with Chile and Peru exposed to copper volatility from EV demand and supply issues, while Colombia gains from oil upticks but contends with inflation and fiscal challenges. (cont...)
