Andeans Macro Daily(Beta Mode)
Andean FX Swings Amid Commodity Dips
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 40.41 | -1.08% |
| MSCI Peru | 84.53 | +0.39% |
| USD/COP | 3,779.80 | -0.17% |
| USD/CLP | 885.37 | -3.02% |
| USD/PEN | 3.42 | +1.71% |
| Copper | 6.63 | -0.11% |
| Gold | 4,710.50 | +0.27% |
| Brent Crude | 104.88 | -0.71% |
| Bitcoin | 79,847.07 | +0.72% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | +0.00% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
USD/CLP vs USD/PEN | Type: market_hloc | USD/CLP: 887.2 (2026-05-14) | Range: 856.5–930.2 | Trend(5pt): 862.4,914.8,926.1,889.7,887.2 | USD/PEN: 3.417 (2026-05-14) | Range: 3.275–3.523 | Trend(5pt): 3.284,3.487,3.495,3.438,3.417
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Andean equities mixed: Chile down 1.08%, Peru up 0.39%, Colombia flat on commodity weakness.
- FX volatile: CLP gains 3.02% vs USD, PEN loses 1.71%, COP up 0.17%.
- Commodities mixed: Copper -0.11%, Brent -0.71%, Gold +0.27%, Bitcoin +0.72%.
Yesterday's Recap
Andean markets showed mixed results on May 13, with no significant data releases leading to lower trading activity. Chile's MSCI index dropped 1.08% to 40.41, hit by a 0.11% fall in copper to 6.63, a vital export for the country. Peru's MSCI index increased 0.39% to 84.53, aided by a 0.27% rise in gold to 4,710.50, lifting mining sentiment despite overall commodity softness.
Colombia's MSCI index stayed unchanged at 9.02, as Brent crude's 0.71% decline to 104.88 pressured oil-reliant budgets, though USD/COP fell 0.17% to 3,779.80 for slight currency support. FX dynamics stood out: USD/CLP plunged 3.02% to 885.37, showing CLP appreciation with short-term rates steady at 4.50%. USD/PEN climbed 1.71% to 3.42, signaling PEN weakening that may raise import expenses.
The lack of local data turned attention to global commodities, while Bitcoin's 0.72% advance to 79,847.07 had minimal regional effects.
The Day Ahead
May 14 features a light Andean calendar, with no planned releases from Colombia, Chile, or Peru, giving room to process recent FX movements. Focus may shift to global commodities, impacting Chile and Peru's export earnings from copper and gold. Colombia could see oil market scrutiny given Brent's downturn, affecting fiscal views.
No major regional events are set, but surprise central bank statements might stir COP, CLP, or PEN trading. External influences include Bank of Canada rate announcements and reports at times like 09:45 ET and 11:30 ET, potentially affecting global policy outlooks and Andean risk appetite. Markets will prioritize FX and commodity monitoring over local indicators.
Other Economic Notes
Andean economies face varied fiscal strains, with Colombia sensitive to Brent fluctuations due to oil reliance, while Chile and Peru draw strength from mining amid copper and gold shifts. Political uncertainties linger, especially in Peru's reform efforts that may widen sovereign spreads, and Colombia's fiscal tightening. Chile's lithium prospects promise future growth but contend with price challenges, highlighting export diversification needs across the region.
Global Macro News
May 13 global trends offered a varied setting for Andeans, with commodities directly affecting export-focused Chile and Peru. <i>↓ p.2</i>
