Andeans Macro Daily(Beta Mode)
Colombia Crash, Chile Rates Hold
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 38.85 | +2.08% |
| MSCI Peru | 76.95 | +3.61% |
| USD/COP | 3,698.50 | +1.99% |
| USD/CLP | 912.04 | -1.67% |
| USD/PEN | 3.46 | +2.16% |
| Copper | 5.41 | -0.51% |
| Gold | 4,435.20 | +0.71% |
| Brent Crude | 101.55 | +1.61% |
| Bitcoin | 71,022.27 | +0.15% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | -3.02% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude Oil Price | Type: macro_line | Brent USD/bbl: 101 (2026-03-16) | Range: 59.93–133.2 | Trend(5pt): 61.21,114.5,93.7,74.3,101
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Colombian military plane crash kills at least 66, with equities flat but COP weakening amid USD strength.
- Chilean assets rally on postponed U.S. strikes easing oil shocks, despite copper dip, with CLP strengthening.
- Peruvian markets rise on gold gains, though PEN weakens and political turmoil from minister's resignation persists.
Yesterday's Recap
Andean markets showed mixed performance amid commodity fluctuations and regional news. In Colombia, the MSCI index held flat at 9.02 with no daily change, overshadowed by a tragic military plane crash in the southern Amazon that killed at least 66, potentially impacting sentiment in defense and infrastructure sectors. The USD/COP surged 1.99% to 3,698.50, reflecting broader USD strength and Brent crude's 1.61% rise to 101.55, which supported Colombian exporters despite no major data releases.
Chilean equities advanced, with MSCI Chile up 2.08% to 38.85, buoyed by positive sentiment from postponed U.S. strikes on Iranian energy assets easing oil shocks, even as copper dipped 0.51% to 5.41. The USD/CLP fell 1.67% to 912.04, aiding exporters, while Chile's short-term rate stood at 4.50% with a -3.02% change, signaling market adjustments.
In Peru, MSCI Peru climbed 3.61% to 76.95, driven by gold's 0.71% gain to 4,435.20, though USD/PEN rose 2.16% to 3.46 amid political noise from the energy minister's resignation over assault allegations. Overall, commodity-sensitive moves dominated without key data, with Bitcoin's slight 0.15% uptick to 71,022.27 adding minor risk-on flows to the region.
The Day Ahead
The Andean calendar remains light with no major data releases scheduled, allowing markets to digest ongoing geopolitical and commodity developments. In Chile, attention turns to the central bank's potential rate decision, where policymakers are expected to hold steady amid oil price shocks threatening inflation targets, as per recent reports. Colombian traders will monitor any fallout from the plane crash investigation, which could influence fiscal spending on defense and infrastructure.
Peru faces continued scrutiny over the energy minister's resignation, potentially affecting mining sector regulations and investor confidence in reforms. Broader focus includes global oil dynamics, with Brent's trajectory impacting Colombia's export revenues. Expect FX volatility in COP, CLP, and PEN as USD movements persist.
Other Economic Notes
Broader Andean themes highlight commodity dependence, with copper's volatility pressuring Chile and Peru's fiscal balances, where mining royalties contribute significantly to budgets. (cont...)
