Andeans Macro Daily(Beta Mode)
Copper Surge Lifts Peru Equities, CLP and COP
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 39.13 | -0.66% |
| MSCI Peru | 84.13 | +1.66% |
| USD/COP | 3,332.73 | -1.01% |
| USD/CLP | 919.75 | -0.54% |
| USD/PEN | 3.40 | +0.11% |
| Copper | 6.22 | +1.75% |
| Gold | 4,164.50 | +1.26% |
| Brent Crude | 72.03 | +0.32% |
| Bitcoin | 62,785.25 | -1.20% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | +0.00% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Copper Futures | Type: market_hloc | Price: 6.221 (2026-07-06) | Range: 5.544–6.649 | Trend(6pt): 5.583,6.018,6.272,6.302,6.123,6.221
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MSCI Peru rose 1.66% while MSCI Chile fell 0.66% as copper jumped 1.75% to 6.22.
- USD/COP dropped 1.01% to 3,332.73 and USD/CLP eased 0.54% to 919.75 on firmer commodity prices.
- Chile’s short-term rate held at 4.50% with no policy shifts reported across the Andean central banks.
Yesterday's Recap
Andean markets posted mixed equity results amid thin trading volumes and no major data releases. Peru equities outperformed as copper prices advanced sharply, boosting mining-related sentiment. Chile equities declined despite the metal’s gain, reflecting profit-taking after recent strength.
MSCI Colombia was unchanged. The Colombian peso led regional FX gains with a 1.01% decline in USD/COP, while the Chilean peso strengthened 0.54%. USD/PEN rose 0.11%.
Brent crude edged up 0.32% to 72.03, offering limited support to Colombia’s fiscal outlook. Gold rose 1.26% to 4,164.50 but produced little spillover into Andean assets. Bitcoin fell 1.20% to 62,785.25, remaining irrelevant to local risk sentiment.
The Day Ahead
No significant economic releases are scheduled for the Andean region. Markets will likely track global copper and oil price movements for directional cues. Chile’s mining output data and Peru’s trade balance figures remain the next focal points later in the week.
Investors will also monitor any comments from BCCh or BCRP officials on inflation trajectories. The absence of BanRep decisions keeps Colombian rates on hold pending further inflation prints.
Other Economic Notes
Copper’s advance reflects fading expectations of aggressive Fed tightening and stronger Chinese demand signals. Chile benefits most directly through higher Codelco royalties and improved terms of trade. Peru’s copper exposure supports external accounts but carries lower royalty sensitivity due to sliding-scale contracts.
Colombia’s fiscal position stays tied to Brent stability near current levels, with Ecopetrol contributions tracking budget assumptions closely.
Global Macro News
Copper and aluminum prices rose on reduced odds of near-term Fed hikes after softer U.S. jobs data. The dollar retreated against most commodity currencies, aiding CLP and COP.
Oil prices stabilized following earlier declines, limiting downside risks for Colombia’s current account. <i>↓ p.2</i>
