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The price of the dollar closed down this Monday in line with the positive behavior of the international stock markets after favorable manufacturing data released in Europe and the United States and while at the local level the economic activity data for September confirmed a recovery in the figures and the downward pressure was maintained before the option of a second withdrawal of 10% of the AFPs.
The US currency closed down $ 5.66 to a selling point of $ 768.38, registering its lowest level since September 17.
In this way, the Chilean peso became the most appreciated currency within the emerging economies so far this day.
“Bearish session for the local exchange rate, which thanks to the Imacec better than expected for the month of September in Chile of 5.3% gives strength to the Chilean peso and manages to break the area of $ 768- $ 770, which were the minimum achieved during the past week, ”said Carlos Quezada, senior analyst at Libertex.
“If the stock markets rise during the week, plus the possible second withdrawal of 10% of the pension funds, the downward pressure should continue in the coming days, seeking the next level at $ 759- $ 762,” he added. .
The drop in the exchange rate was also supported by the rise in the price of copper, the country’s main export, which today had good economic news from China, the world’s main consumer of the red metal.
3-month futures of the metal advanced 0.77% to US $ 3.0710 a pound on the London Metal Exchange
Even so, there is expectation regarding the elections in the US that tomorrow he must choose the continuity of Donald Trump or the presidency of Democrat Joe Biden.
“Technically we expect the exchange rate to fluctuate around $ 762 as support and $ 780 as resistance,” said Francisco Román, markets analyst at XTB Latam.
“We project the strength of the Chilean peso, with which we would see breaks of $ 770 during the morning, trying to consolidate below last week’s lows which are at $ 768,” complemented Carlos Quezada, senior analyst at Libertex.
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