The dollar reverses its decline in Chile and puts pressure on the weekly closing.
The dollar reversed its decline after the Central Bank of Chile reported that the activity indicator grew by 2.5% annually in January.
The dollar reversed its opening decline after the Central Bank reported that Chile’s main activity indicator (Imacec) grew by 2.5% annually in January, and it was trading steadily around $968 at the beginning of the afternoon in the Chilean exchange market.
| Broker | Review | Regulators | Min Deposit | Website | |
| 🥇 |  |
Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  |
Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker >> |
| 🥉 |  |
Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  |
Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  |
Read Review | IFSC, FCA, CySEC, ASIC, CMA | USD 5 | Visit Broker >> |
| 6 |  |
Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  |
Read Review | IFSC | USD 10 | Visit Broker >> |
| 8 |  |
Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  |
Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  |
Read Review | SVGFSA | USD 5 | Visit Broker >> |
The dollar was quoted at $968.36, up $0.89, according to Bloomberg. Internationally, the dollar index, which compares the US dollar with a series of world currencies, was down 0.11% at 104.09, while copper futures on Comex were up 0.29% at US$ 3.85%.
The annual growth of the Imacec exceeded estimates and was explained by all sectors, with highlights in other goods and services. Additionally, it had its best performance since June 2022.
Meanwhile, the dollar fell against the euro after it was reported that the US manufacturing sector also suffered a new downturn in February, with an indicator of factory employment falling to its lowest level in seven months, amid a decline in new orders.
Growth in the US service sector rebounded in January with an increase in new orders and a recovery in employment, but suppliers seemed to lag behind, leading to an increase in input prices to their highest level in 11 months.
Taking into account the last seven days, the US dollar is mostly flat, although conversely, on a year-on-year basis, it still maintains an increase of 17.74%
After a year without economic growth, Chile could experience a rebound for 2024 and 2025, according to estimates by the Organization for Economic Cooperation and Development (OECD).
It foresees an improved outlook due to the rise in real wages as a result of declining inflation and falling interest rates, allowing Chileans to enhance their consumption.
