Andeans Macro Daily(Beta Mode)
Andeans Rally on Copper Surge
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 | 3,674.62 | -0.19% |
| USD/CLP | 915.97 | -0.37% |
| USD/PEN | 3.42 | +0.06% |
| Copper | 5.74 | +3.52% |
| Gold | 4,818.00 | +3.45% |
| Brent Crude | 94.11 | -13.87% |
| Bitcoin | 71,629.13 | -0.43% |
| 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 Trend | 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 advanced, led by MSCI Chile's 3.87% gain and MSCI Peru's 5.99% rise, fueled by copper's 3.52% jump amid global demand hopes.
- Currencies held firm versus USD, with USD/CLP down 0.37% and USD/COP easing 0.19%, despite Brent crude's 13.87% plunge pressuring Colombia.
- Commodities diverged: gold climbed 3.45% bolstering Peru, Bitcoin fell 0.43%; Chile's short-term rate dropped 3.02% to 4.50%, suggesting easing.
Yesterday's Recap
Andean markets delivered robust gains yesterday, propelled by commodity strength in Chile and Peru. MSCI Chile rose 3.87% to 39.76, driven by copper's 3.52% increase to 5.74, underscoring Chile's role as the top global producer and enhancing export prospects. MSCI Peru surged 5.99% to 80.71, supported by gold's 3.45% advance to 4,818.00, aiding the mining sector.
Meanwhile, MSCI Colombia remained unchanged at 9.02 with 0.00% movement, offset by Brent crude's steep 13.87% drop to 94.11, which strains the oil-reliant economy. Currency shifts were subdued: USD/CLP declined 0.37% to 915.97 on copper momentum, USD/PEN rose slightly by 0.06% to 3.42, and USD/COP fell 0.19% to 3,674.62 despite energy pressures. Chile's short-term rate decreased 3.02% to 4.50%, indicating a continued easing trajectory.
The day emphasized splits, with metals lifting Chile and Peru while oil weighed on Colombia.
The Day Ahead
Today's Andean calendar is empty, with no key releases, giving markets time to process recent commodity swings. Focus will likely stay on copper and gold trends, vital for Chile and Peru's exports, particularly with Goldman's alert on potential Iran-linked disruptions via the Strait of Hormuz. Colombia could see attention on oil market fallout from Brent's fall, impacting firms like Ecopetrol and budget outlooks.
Global factors, such as upcoming US inflation data noted in market reports, may influence sentiment. Trading should be calm absent new shocks.
Other Economic Notes
Andean economies highlight commodity reliance, with Chile and Peru capitalizing on copper and gold rallies to improve trade balances, while Colombia contends with oil price instability affecting its accounts. Fiscal policies are pivotal: Chile's mining revenues support surpluses, unlike Colombia's expanding shortfalls from energy volatility. Risks include Peru's mining area tensions and Chile's ongoing Pinochet-era extradition proceedings, potentially denting sentiment.
