Andeans Macro Daily(Beta Mode)
Andean Stocks Rise on Copper Rally
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 41.76 | +1.63% |
| MSCI Peru | 79.37 | +2.33% |
| USD/COP | 3,654.64 | +0.57% |
| USD/CLP | 897.95 | -0.72% |
| USD/PEN | 3.51 | -0.46% |
| Copper | 5.98 | +0.95% |
| Gold | 4,577.50 | -0.81% |
| Brent Crude | 111.27 | -2.40% |
| Bitcoin | 77,429.23 | +1.47% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | +0.00% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Oil Price Trends | Type: macro_line | Brent Crude Price: 113.9 (2026-04-27) | Range: 59.93–138.2 | Trend(5pt): 68.91,111.5,90.73,78.01,113.9
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Andean equities advanced, with Chile and Peru leading gains on copper strength, while Colombia stayed flat amid oil declines.
- Currencies showed mixed performance: COP weakened against USD, while CLP and PEN gained modestly.
- Commodity shifts drove sentiment: Copper rose 0.95%, Brent fell 2.40%, impacting export-dependent economies.
Yesterday's Recap
Andean markets diverged on April 30, with MSCI Chile up 1.63% to 41.76 and MSCI Peru rising 2.33% to 79.37, supported by copper's 0.95% gain to 5.98 amid positive Chinese factory output. MSCI Colombia remained unchanged at 9.02 with a 0.00% change, weighed by Brent crude's 2.40% drop to 111.27, pressuring oil revenues. Currency moves aligned with commodities: USD/COP rose 0.57% to 3,654.64, reflecting COP depreciation from fiscal worries, while USD/CLP declined 0.72% to 897.95 and USD/PEN fell 0.46% to 3.51, bolstered by mining resilience.
Gold dipped 0.81% to 4,577.50, maintaining Peru's export balance. Chile's short-term rate held at 4.50% with no change, indicating central bank steadiness. Bitcoin climbed 1.47% to 77,429.23, adding to risk appetite.
No economic events were reported, shifting focus to global commodity cues and regional news.
The Day Ahead
May 1 brings a sparse Andean calendar with no events scheduled, giving markets time to absorb commodity trends and external developments. Eyes will be on spillovers from Brazil's rate cut despite inflation pressures, which may affect regional policy outlooks. Colombia's recent climate talks, backing fossil fuel phaseout roadmaps, could influence energy sector sentiment and fiscal planning.
Mining updates, such as Capstone Copper's 2026 AGM results and Sprott Physical Copper Trust restructuring, may sway Chile and Peru equities. LatAm tourism growth, including surges in Colombia, offers potential FX support amid rising airfares. Trading is likely subdued unless oil or copper volatility emerges from global factors like Middle East tensions.
Other Economic Notes
Andean economies remain tied to commodities, with copper gains enhancing Chile and Peru's export revenues and fiscal stability. Colombia faces headwinds from Brent weakness, heightening current account risks in its oil-reliant structure. Regional tourism booms, driven by short-haul travel in countries like Colombia, provide diversification amid cost-conscious shifts, though global airfare increases pose challenges.
Broader LatAm trends, including Brazil's resilient economy, underscore the need for balanced monetary responses to inflation and growth.
