Andeans Macro Daily(Beta Mode)
Copper Gains Lift Chile, Peru Markets
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 39.66 | +1.35% |
| MSCI Peru | 85.28 | +1.36% |
| USD/COP | 3,350.07 | +0.15% |
| USD/CLP | 929.12 | +0.90% |
| USD/PEN | 3.40 | +1.98% |
| Copper | 6.24 | +0.93% |
| Gold | 4,178.50 | +0.56% |
| Brent Crude | 72.87 | +1.22% |
| Bitcoin | 63,140.27 | -1.34% |
| 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 $/lb: 6.246 (2026-07-07) | Range: 5.544–6.649 | Trend(6pt): 5.544,5.915,6.165,6.249,6.115,6.246
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MSCI Chile rose 1.35% to 39.66 and MSCI Peru gained 1.36% to 85.28 as copper advanced 0.93% to 6.24/lb, while MSCI Colombia stayed flat at 9.02.
- Andean currencies weakened, with USD/PEN up 1.98% to 3.40 and USD/CLP higher by 0.90% to 929.12 on thin positioning and commodity moves.
- No major data releases occurred in Colombia, Chile or Peru on July 6, leaving markets to track external commodity signals.
Yesterday's Recap
Andean markets posted modest gains driven by commodity strength. MSCI Chile climbed 1.35% to 39.66 while MSCI Peru advanced 1.36% to 85.28, supported by copper and gold prices. MSCI Colombia remained unchanged at 9.02.
USD/COP edged 0.15% higher to 3,350.07 and USD/CLP rose 0.90% to 929.12, reflecting limited local catalysts. Chile’s short-term rate held steady at 4.50%. With the calendar empty of releases, investors tracked external commodity moves that directly affect fiscal and current-account balances in Chile and Peru.
Copper’s advance improves Chile’s fiscal arithmetic most directly, adding roughly $180 million in annual revenue per $0.10/lb gain and supporting the structural deficit target. Peru gains via mining royalties that now represent about 1.8% of GDP and a narrower current-account gap. Colombia’s oil balance remains under pressure with Brent near 72.87, pushing the 2026 current-account deficit projection to 2.7% of GDP.
Lithium project developments in Chile continue to attract foreign investment but have yet to lift near-term fiscal receipts.
The Day Ahead
The next three days feature minimal scheduled releases across the Andean bloc. Peru will publish its June trade balance on July 8. Colombia plans a COP 1.8 trillion 10-year TES auction on July 9.
Chile releases June CPI on July 10, where consensus points to a 0.3% m/m print. No central-bank meetings are set this week. Mining firms including Antofagasta are due to report Q2 production figures shortly after.
Other Economic Notes
Copper’s advance improves Chile’s fiscal arithmetic most directly, adding roughly $180 million in annual revenue per $0.10/lb gain and supporting the structural deficit target. Peru gains via mining royalties that now represent about 1.8% of GDP and a narrower current-account gap. Colombia’s oil balance remains under pressure with Brent near 72.87, pushing the 2026 current-account deficit projection to 2.7% of GDP.
Lithium project developments in Chile continue to attract foreign investment but have yet to lift near-term fiscal receipts.
