Andeans Macro Daily(Beta Mode)
Andean Stocks Surge Amid Commodity Swings
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 39.76 | +3.87% |
| MSCI Peru | 80.71 | +5.99% |
| USD/COP | 3,664.95 | -0.46% |
| USD/CLP | 923.70 | -0.26% |
| USD/PEN | 3.46 | -1.04% |
| Copper | 5.54 | -1.48% |
| Gold | 4,650.80 | -2.77% |
| Brent Crude | 109.18 | +7.93% |
| Bitcoin | 66,382.16 | -2.49% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | -3.02% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Chile Short-Term Rate | Type: macro_line | Chile Short-Term Rate: 4.5 (2026-01-01) | Range: 0.3–11.25 | Trend(5pt): 0.3,9.55,9.55,5.25,4.5
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Andean equities rallied strongly, with MSCI Chile up 3.87% and Peru 5.99%, while Colombia held flat.
- Local currencies firmed against USD, led by PEN's 1.04% gain, as Brent crude soared 7.93%.
- Commodities diverged: copper down 1.48%, gold off 2.77%, pressuring miners in Chile and Peru.
Yesterday's Recap
Andean markets displayed strength despite mixed commodity signals, with notable gains in Chile and Peru equities offsetting softer metals. MSCI Chile rose 3.87% to 39.76, supported by broader mining sector sentiment amid global copper supply news, even as copper prices fell 1.48% to 5.54. MSCI Peru climbed 5.99% to 80.71, bolstered by export resilience despite gold's 2.77% drop to 4,650.80, with positive mining output trends aiding sentiment.
MSCI Colombia remained unchanged at 9.02, reflecting stable oil exposure as Brent crude jumped 7.93% to 109.18. On FX, USD/COP declined 0.46% to 3,664.95, indicating COP appreciation tied to oil gains. USD/CLP fell 0.26% to 923.70, and USD/PEN dropped 1.04% to 3.46, highlighting Andean FX appeal amid emerging volatility.
Chile's short-term rate eased 3.02% to 4.50%, signaling ongoing monetary support. No key economic releases occurred, but the session emphasized commodity linkages, with Chile and Peru vulnerable to metals fluctuations while Colombia benefited from energy upside. Bitcoin dipped 2.49% to 66,382.16, largely irrelevant for the region.
The Day Ahead
With no scheduled events or data for Colombia, Chile, or Peru, markets will track global drivers like commodity prices and U.S. indicators. Copper and Brent futures could sway Chile's trade balances and Colombia's revenues, while gold movements may influence Peru's reserves.
FX pairs such as USD/CLP and USD/PEN remain sensitive to dollar dynamics. Chile's lithium sector might draw attention from international tariff talks, impacting BCCh views. Peru could see focus on mining updates, affecting BCRP strategies.
A subdued calendar sets up reactive trading to external macro shifts.
Other Economic Notes
Andean economies exhibit varied trajectories, with Chile grappling with copper price swings affecting fiscal stability, while Peru leverages steady mining exports for growth. Colombia's oil reliance benefits from high Brent levels, aiding current account positions despite inflation challenges. Political reforms across the region could influence investor confidence and bond spreads, underscoring the need for policy consistency.
