Andeans Macro Daily(Beta Mode)
Chile, Peru Equities Advance on Metals Rally
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MSCI Colombia | 9.02 | +0.00% |
| MSCI Chile | 39.43 | +1.62% |
| MSCI Peru | 87.13 | +3.09% |
| USD/COP | 3,220.00 | -1.11% |
| USD/CLP | 934.18 | +0.04% |
| USD/PEN | 3.40 | +2.35% |
| Copper | 6.51 | +0.05% |
| Gold | 4,122.50 | +1.26% |
| Brent Crude | 84.62 | -7.02% |
| Bitcoin | 65,963.51 | -0.81% |
| 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 (2026-06-01) | Range: 0.75–11.25 | Trend(5pt): 0.75,11.17,8.98,5,4.5
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MSCI Peru surges 3.09% and MSCI Chile rises 1.62% as copper holds near $6.51
- COP strengthens 1.11% versus USD while PEN weakens 2.35% on mixed flows
- Brent crude plunges 7.02% to $84.62, adding fiscal pressure on Colombia
Yesterday's Recap
Andean markets showed clear divergence on July 21 with Chile and Peru driving regional performance. MSCI Chile advanced 1.62% to 39.43 while MSCI Peru climbed 3.09% to 87.13, supported by steady copper at $6.51 per pound and gold rising 1.26% to $4,122.50. USD/COP fell 1.11% to 3,220.00, reflecting peso strength, whereas USD/PEN rose 2.35% to 3.40 amid softer local demand.
USD/CLP edged 0.04% higher to 934.18. Chile’s short-term rate remained at 4.50%. Heavy rainfall triggered a state of catastrophe declaration in Coquimbo and Huasco regions, though mining output data remained unaffected.
No macroeconomic releases occurred across Colombia, Chile or Peru, leaving price action driven purely by external commodity moves and limited local positioning. MSCI Colombia closed flat at 9.02.
The Day Ahead
The calendar shows no scheduled data releases or central bank events for July 22 across the three Andean economies. Traders will monitor ongoing copper and gold price stability for further equity and currency signals, particularly in Chile and Peru. Colombia faces continued downside risk to fiscal accounts from the sharp Brent decline.
Any follow-through on Chile’s flood-related infrastructure spending could surface in local media without immediate market impact. Focus remains on external drivers until next week’s potential inflation prints. Bitcoin’s modest decline to 65,963.51 offers little direct read-through for regional flows.
Other Economic Notes
Commodity price swings continue to dominate Andean fiscal and external balances. Copper’s modest gain supports Chile’s royalty receipts and Peru’s trade surplus, narrowing current-account gaps in both countries. Gold strength offers marginal relief for Peru’s medium-scale miners.
Brent’s steep drop widens Colombia’s external financing needs and reduces Ecopetrol dividend expectations. Lithium spot prices remain soft in Chile, limiting upside for SQM and Albemarle royalty contributions. Regional equity outperformance versus broader emerging markets highlights the direct transmission from metals to local indices.
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