Andeans Macro Daily(Beta Mode)
Andean Stocks Dip Amid Commodity Shifts
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 38.40 | -1.64% |
| MSCI Peru | 76.71 | -2.86% |
| USD/COP | 3,679.09 | -0.54% |
| USD/CLP | 932.83 | +1.76% |
| USD/PEN | 3.48 | +0.67% |
| Copper | 5.46 | +0.26% |
| Gold | 4,437.90 | +1.43% |
| Brent Crude | 104.41 | -3.33% |
| Bitcoin | 66,642.61 | -3.12% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | -3.02% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude Price | Type: macro_line | Brent Price: 103.8 (2026-03-23) | Range: 59.93–133.2 | Trend(5pt): 64.06,122.2,97.1,72.12,103.8
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Andean equities declined, with Chile and Peru indices falling sharply on global risk aversion.
- Currencies varied: COP gained against USD, while CLP and PEN weakened.
- Recession fears and Middle East tensions pressured regional markets.
Yesterday's Recap
Andean markets saw declines on March 26, influenced by commodity movements and broader risk-off sentiment. MSCI Chile index dropped 1.64% to 38.40, impacted by a 1.76% rise in USD/CLP to 932.83, amid concerns over export reliance. MSCI Peru fell 2.86% to 76.71, affected by a 0.67% increase in USD/PEN to 3.48, despite gold's 1.43% rise to 4,437.90 and copper's 0.26% gain to 5.46.
MSCI Colombia remained unchanged at 9.02, bolstered by a 0.54% drop in USD/COP to 3,679.09, even as Brent crude declined 3.33% to 104.41. Chile's short-term rate decreased by 3.02% to 4.50%, indicating possible policy adjustments. Bitcoin fell 3.12% to 66,642.61, adding to volatility.
No significant economic data was released in the Andean region, with price action driven by external factors like commodity trends and global uncertainties. The session underscored Chile and Peru's exposure to mining fluctuations, contrasted by Colombia's currency support.
The Day Ahead
March 27 offers a sparse calendar for Andean countries, with no planned economic releases or events in Colombia, Chile, or Peru. Focus will likely shift to commodity markets, including copper and gold prices, which could affect export prospects for Chile and Peru. Traders may watch for any impromptu statements from central banks like BanRep, BCCh, or BCRP in response to FX movements.
Middle East developments could influence oil prices, impacting Colombia's fiscal position. Potential US data spillovers remain relevant due to trade linkages. The lack of local catalysts emphasizes Andean dependence on international macro trends.
Other Economic Notes
Andean nations continue to hinge on commodity exports, leaving Chile and Peru susceptible to copper and gold price changes, as recent sessions demonstrate. Colombia's economy faces risks from oil price swings, though yesterday's COP appreciation offered some relief. Fiscal reforms are underway across the region, with Peru's political environment possibly affecting mining sector investments.
Chile's lithium initiatives provide diversification opportunities but contend with variable global demand for electric vehicles.
