Andeans Macro Daily(Beta Mode)
Copper Gains Lift Chile, Peru Markets
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 40.20 | +0.70% |
| MSCI Peru | 86.36 | +0.85% |
| USD/COP | 3,237.18 | -1.73% |
| USD/CLP | 923.90 | -1.15% |
| USD/PEN | 3.41 | +0.31% |
| Copper | 6.28 | +0.67% |
| Gold | 4,073.20 | -0.75% |
| Brent Crude | 78.57 | +3.37% |
| Bitcoin | 62,936.15 | -1.29% |
| Colombia 10Y Govt Yield | - | - |
| Chile Short-term Rate | 4.50% | +0.00% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
MSCI Chile Equity (ECH) | Type: market_hloc | Price: 40.2 (2026-07-10) | Range: 37.43–44.27 | Trend(6pt): 42.28,39.49,40.83,41.56,39.92,40.2
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MSCI Chile and Peru rose 0.70% and 0.85% respectively on copper gains to $6.28/lb.
- USD/COP fell 1.73% to 3,237.18 while USD/CLP declined 1.15% amid risk-on flows.
- Brent crude jumped 3.37% to $78.57, offering modest fiscal support to Colombia.
Yesterday's Recap
Andean equity markets posted modest gains on July 12, led by Chile and Peru. MSCI Chile advanced 0.70% to 40.20 while MSCI Peru climbed 0.85% to 86.36, supported by copper rising 0.67% to $6.28 per pound. MSCI Colombia was unchanged at 9.02.
In FX markets, USD/COP dropped sharply 1.73% to 3,237.18 and USD/CLP fell 1.15% to 923.90, reflecting improved risk sentiment. USD/PEN edged 0.31% higher to 3.41. Brent crude surged 3.37% to $78.57, providing incremental revenue support for Colombia’s fiscal accounts.
Gold declined 0.75% to 4,073.20 while Bitcoin fell 1.29%. Chile’s short-term rate held steady at 4.50%. No major data releases occurred across the Andean bloc.
BHP’s exploration of a sale for its Chilean desalination plant and power lines extended the miner’s asset-monetization strategy, while Chile’s government retained a window to issue external debt as sovereign spreads hovered near two-decade lows. Peru’s central bank held its policy rate at 4.25% for the tenth straight month, judging the recent inflation spike temporary.
The Day Ahead
The calendar shows no scheduled releases for Colombia, Chile or Peru on July 13. Markets will therefore focus on external drivers, particularly Chinese demand indicators and global commodity prices. Copper and oil movements will remain central to sentiment for Chile, Peru and Colombia respectively.
Any updates on Chile’s ongoing debt issuance window or mining-asset monetization plans could also influence local yields and the CLP. Investors will monitor incoming global risk data for potential spillover into Andean FX and equity flows. Copper’s second consecutive weekly advance continues to support external accounts, with Chile’s state copper revenues tracking above budget assumptions and Peru’s mining royalty collections running higher year-to-date.
Other Economic Notes
Copper’s weekly advance continues to bolster external accounts in Chile and Peru, with mining royalties and fiscal revenues tracking above budget assumptions. Chile’s government retains a favorable window to issue external debt as sovereign spreads sit near multi-year lows. Colombia benefits from the Brent surge but remains more exposed to oil-price volatility than its copper-dependent peers.
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