2023-04-25 20:05:00
The dollar went up and down before closing virtually unchanged on Tuesdayleaving behind a day where copper reached a five-week low and market rates fell sharply amid expectations of lower global economic growth.
According to Bloomberg data, the price of the dollar fell a slight $0.59 to $812.86 at the end of operations in Chile, following opening higher to $819 and then falling to a touch of $810 at the beginning of the followingnoon.
At the time of closing, he dollar index it advanced 0.49% to 101.84 pointswhile Comex copper fell 2.42% to US$3.87 a poundits lowest level since March 15.
“The green ticket in our country is decoupled from its fundamentals, correcting part of the latest advances that were supported in part by the decrease in sales positions of forward dollars from the Central Bank”wrote the head of studies trading of Capitaria, Ricardo Bustamante.
In any case, the outlook for lower growth eased the outlook for interest rates in the United States: The two-year Treasury note dipped 16.4 basis points (bp) to 3.93%.
There were new figures in the first economy in the world. Conference Board consumer confidence index at lowest level since Julywhile New home sales had a surprise rise in March.
The exchange rate jumped $10 on Mondaydriven by the announcement of the national governing body and the uncertainty regarding the Government policy on lithium.
Senate Commission approves the creation of a mining royalty
Inventories in the crosshairs
Industrial metals were hit by rising iron inventories in Chinaan indication that the long-awaited economic recovery of the Asian giant might be further away than expected.
And although the visible inventories of copper in China have been reduced, Yangshan import premiums have fallen sharply to US$ 23 a ton -from US$ 50 in March-, which would be pointing to a weaker demand, reported Archyde.com.
While, he stock immediately available copper on the London Metal Exchange rose to a seven-week higha sign of easing on the supply side of the mineral.
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