Andeans Macro Daily(Beta Mode)
Andean Stocks Slip as Peru, Chile Lag
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 39.92 | -1.65% |
| MSCI Peru | 83.96 | -2.58% |
| USD/COP | 3,565.35 | -0.61% |
| USD/CLP | 889.90 | +0.01% |
| USD/PEN | 3.40 | -0.04% |
| Copper | 6.52 | +0.65% |
| Gold | 4,527.10 | +2.04% |
| Brent Crude | 94.31 | -3.58% |
| Bitcoin | 62,595.85 | -2.22% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | +0.00% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Chile Policy Rate | Type: macro_line | Percent: 4.5 (2026-03-01) | Range: 0.54–11.25 | Trend(5pt): 0.54,10.75,9,5,4.5
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MSCI Peru drops 2.58% and MSCI Chile falls 1.65% while Colombia holds flat
- Copper rises 0.65% and gold jumps 2.04%, offering partial offset for Peru
- COP strengthens 0.61% against USD as CLP and PEN show minimal moves
Yesterday's Recap
Andean equity markets closed mixed on June 3. MSCI Peru fell 2.58% to 83.96 and MSCI Chile declined 1.65% to 39.92, reflecting sensitivity to global commodity swings even as copper advanced 0.65% to 6.52. MSCI Colombia was unchanged at 9.02.
In FX, USD/COP eased 0.61% to 3,565.35, indicating modest peso strength, while USD/CLP held near flat at 889.90 and USD/PEN slipped 0.04% to 3.40. Brent crude fell 3.58% to 94.31, limiting upside for Colombia’s fiscal accounts tied to oil exports. Gold’s 2.04% advance to 4,527.10 provided support for Peruvian miners.
Bitcoin closed 2.22% lower at 62,595.85 with negligible direct regional spillovers. Chile’s short-term rate stayed at 4.50%.
The Day Ahead
The Andean calendar remains empty through June 5, directing attention to external commodity and risk signals. Copper and gold price action will continue to shape Chile’s fiscal revenue outlook and Peru’s current-account balance. Colombia’s oil-linked revenues face pressure from Brent’s recent weakness.
Market participants will monitor any follow-through in USD/COP after yesterday’s peso gain. Broader equity flows into MSCI ETFs may stay subdued until fresh data emerges from the region’s major trading partners.
Other Economic Notes
Chile’s economy remains highly exposed to copper price volatility given the metal’s weight in export receipts and government finances. Peru benefits from dual exposure to copper and gold, allowing partial hedging of mining sector performance. Colombia’s narrower trade balance in recent prints has been supported by coal and oil volumes, though softer Brent prices could widen the deficit ahead.
Lithium royalty developments in Chile continue to attract investor focus as a structural revenue driver. Regional equity and FX correlations with global metals remain elevated.
Global Macro News
Copper’s modest gain contrasted with Brent’s 3.58% drop, highlighting divergent commodity drivers affecting Andean terms of trade. Gold’s 2.04% rally offered a buffer for Peru’s external accounts amid softer industrial metals elsewhere. The ECB deposit rate at 2.00% and Eurozone unemployment at 6.70% signal steady external demand conditions for Andean exports.
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