Andeans Macro Daily(Beta Mode)
Chile, Peru Stocks Rise as Copper Holds Steady
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 40.59 | +3.07% |
| MSCI Peru | 82.03 | +3.43% |
| USD/COP | 3,714.75 | -2.06% |
| USD/CLP | 897.19 | -0.87% |
| USD/PEN | 3.41 | +1.67% |
| Copper | 6.27 | -0.38% |
| Gold | 4,517.90 | -0.30% |
| Brent Crude | 107.11 | +1.99% |
| Bitcoin | 77,229.60 | -0.29% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | +0.00% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Chile Short-Term Rate | Type: macro_line | Percent: 4.5 (2026-03-01) | Range: 0.32–11.25 | Trend(5pt): 0.32,9.75,9.44,5.15,4.5
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MSCI Chile surges 3.07% to 40.59 and MSCI Peru gains 3.43% to 82.03 on steady copper prices near $6.27/lb.
- COP strengthens sharply with USD/COP falling 2.06% to 3,714.75 while CLP advances 0.87% against the dollar.
- Brent crude rises 1.99% to $107.11 amid Middle East tensions, supporting Colombia’s fiscal outlook despite flat MSCI Colombia.
Yesterday's Recap
Andean equity markets posted strong gains led by Chile and Peru. MSCI Chile climbed 3.07% to 40.59 while MSCI Peru advanced 3.43% to 82.03, reflecting resilience in mining equities. Copper traded at $6.27 per pound after a modest 0.38% pullback, limiting downside for both economies.
USD/COP dropped 2.06% to 3,714.75 as improved risk sentiment lifted the peso. USD/CLP eased 0.87% to 897.19 while USD/PEN rose 1.67% to 3.41. Codelco’s internal audit revelation that executives overstated 2025 copper output weighed on Chilean producer sentiment but did not derail broader market gains.
Brent’s advance to $107.11 offered indirect support for Colombia’s external accounts.
The Day Ahead
Markets face a quiet calendar with no major data releases scheduled across the three countries. Attention will center on Chile’s central bank board minutes due tomorrow for fresh signals on the pace of easing. Colombia’s Treasury plans to auction COP 1.2 trillion in 2029 and 2036 bonds, testing local demand amid stable yields.
Peru’s employment figures for May are expected later in the week and should confirm labor-market stability. Copper and oil price movements will continue to drive daily FX and equity flows in the absence of policy events.
Other Economic Notes
Copper remains the dominant macro driver for Chile and Peru, with each $0.10 per pound move altering fiscal revenue projections by hundreds of millions of dollars. Colombia’s oil-linked revenues benefit from Brent above $100 yet face offsetting pressure from weaker non-oil exports. Lithium project advances in Chile continue to attract foreign direct investment, supporting the current-account balance.
Regional fiscal deficits stay contained provided commodity prices hold near current levels.
Global Macro News
US-Iran tensions lifted Brent crude 1.99% and created a supportive backdrop for commodity-linked currencies. Copper’s modest retreat reflected profit-taking after recent gains yet stayed within a constructive range for Andean producers. Gold’s 0.30% dip to $4,517.90 offered limited offset for Colombia and Peru’s mining sectors.
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