Andeans Macro Daily(Beta Mode)
Andean Stocks Rally on Commodities
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 | 3,665.31 | +0.13% |
| USD/CLP | 918.90 | +0.71% |
| USD/PEN | 3.45 | +0.02% |
| Copper | 5.67 | +2.00% |
| Gold | 4,719.10 | +1.45% |
| Brent Crude | 108.39 | -0.59% |
| Bitcoin | 69,695.40 | +1.03% |
| 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 Central Bank 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 surged, with Chile and Peru leading on copper and gold gains, while Colombia stayed flat amid oil decline.
- Currencies softened slightly versus USD; Colombia saw central bank tensions over rates.
- Commodity strength aids Andean exporters, though oil weakness pressures Colombia.
Yesterday's Recap
Andean markets posted strong gains yesterday, buoyed by commodity rallies. MSCI Chile rose 3.87% to 39.76, driven by copper's 2.00% increase to 5.67, supporting Chile's mining-dependent economy. MSCI Peru climbed 5.99% to 80.71, lifted by gold's 1.45% advance to 4,719.10, bolstering Peru's export sector.
MSCI Colombia held steady at 9.02 with a 0.00% change, offset by Brent crude's 0.59% drop to 108.39, despite Bitcoin's 1.03% rise to 69,695.40 providing some positive sentiment. In FX, USD/COP increased 0.13% to 3,665.31, tied to inflation worries. USD/CLP gained 0.71% to 918.90, and USD/PEN edged up 0.02% to 3.45, reflecting commodity-linked volatility.
Chile's short-term rate declined 3.02% to 4.50%, hinting at easing momentum. The commodity uptick helped counter emerging market headwinds, but Colombia's policy frictions persisted.
The Day Ahead
No key economic releases are on tap today, so Andean assets may follow global commodity trends, especially copper and gold, impacting Chile and Peru's mining outlooks. Watch for ripples from Colombia's central bank discord, where the finance minister's walkout could heighten COP fluctuations. Regional LatAm updates, like Brazil's bioeconomy initiative, could indirectly boost sentiment via shared commodity ties.
Peru's BCRP might intervene in FX to curb PEN swings amid calm conditions. With sparse calendars, external factors like oil price shifts could affect Colombia's trade balance. Chile's lithium prospects may draw focus if EV-related demand picks up globally.
Other Economic Notes
Andean nations depend on commodities, with Chile and Peru gaining from copper's upswing due to supply limits, offsetting Colombia's challenges from falling oil prices. Fiscal oversight is key, particularly in Colombia amid inflation strains, unlike Peru's steadier profile. Political factors, including policy reforms, influence bond spreads, while Chile's lithium push offers growth diversification.
Global Macro News
Commodities bolstered Andean performance, with copper up 2.00% on tight supplies, aiding Chile and Peru's revenues alongside U.S. mining boosts like Highland Copper's White House mention. (cont...)
