Andeans Macro Daily(Beta Mode)
Andean Stocks Surge on Commodity Shifts
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 | 3,665.14 | -0.18% |
| USD/CLP | 918.90 | +0.71% |
| USD/PEN | 3.45 | -0.25% |
| Copper | 5.56 | -1.08% |
| Gold | 4,651.50 | -2.75% |
| Brent Crude | 109.03 | +7.78% |
| Bitcoin | 66,847.67 | -0.06% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | -3.02% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Chile Policy Rate | Type: macro_line | Chile ST 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 MSCI Peru up 5.99%, offsetting copper's decline amid mining optimism.
- Currencies showed mixed performance: COP and PEN gained against USD, while CLP weakened slightly on global pressures.
- Commodities diverged, with Brent crude soaring 7.78% to aid Colombia, but gold and copper fell, impacting Chile and Peru.
Yesterday's Recap
Andean markets displayed strength on April 2, with equities advancing despite commodity headwinds and an empty economic calendar. MSCI Chile rose 3.87% to 39.76, bolstered by emerging market inflows and copper-related developments like Chinese investments in African rail projects, even as copper prices dropped 1.08% to 5.56. MSCI Peru climbed 5.99% to 80.71, driven by positive mining news including Rio2's debt reduction for its Peruvian copper-gold project and Litchfield's drilling at an NT copper-zinc system, which echoed regional optimism.
MSCI Colombia remained unchanged at 9.02 with a 0.00% shift, as Brent crude's 7.78% increase to 109.03 offered fiscal support but did not spur broader gains. Currency movements varied: USD/COP fell 0.18% to 3,665.14, reflecting COP appreciation from oil strength, while USD/CLP increased 0.71% to 918.90 amid copper softness. USD/PEN declined 0.25% to 3.45, supported by central bank actions and stable gold exports despite gold's 2.75% drop to 4,651.50.
Bitcoin edged down 0.06% to 66,847.67, showing minor volatility. Chile's short-term rate decreased to 4.50% with a -3.02% change, indicating easing conditions. No data was available for Colombia's 10Y government yield.
The Day Ahead
April 3 features no scheduled economic events for Andean nations, leaving markets to react to global commodity trends and external news. Chilean and Peruvian traders may watch copper futures amid Trump's new tariffs on steel, aluminum, and copper, which could alter export flows and pressure currencies. Colombia's oil sector might respond to Brent price swings tied to Middle East conflicts, influencing fiscal outlooks.
Potential unscheduled statements from central banks like BanRep or BCCh on inflation could emerge. Regional LatAm updates, such as Brazil's pledge to protect its economy from West Asia fallout, may shape sentiment. Without domestic data, Andean assets are expected to follow global risk trends and metals performance.
Other Economic Notes
Andean economies remain tied to commodities, with Chile and Peru exposed to copper and gold volatility from global shifts like Poland's emerging copper-silver resources and Morocco's Managem expanding gold output. Colombia benefits from Brent's rise but contends with inflation and political uncertainties. (cont...)
