2024-02-29 14:20:00
The dollar lost ground on Thursday for the third consecutive session, amid a copper recovery and following it was reported that The Federal Reserve’s preferred gauge of core inflation rose in January at the fastest pace in nearly a year.data that added to the progress that they showed early on sectoral trade indicators y industrial production in Chile in January.
At 11:20 in the morning, the dollar fell $7.97 to $970.48, according to Bloomberg quotes. Internationally, the dollar index, which compares the US currency with a series of world currencies, fell 0.16% to 103.81.
The callCore personal consumption expenditure price index, which excludes the volatile food and energy components, rose 0.4% from December, saccording to the data published on Thursday, in an advance that supported the authorities’ patient approach to begin cutting interest rates.
For its part, Comex copper futures contracts advanced 0.6% to US$3.86 per pound. The commodity will also see the release of important figures during this day, in which the monthly production of the red metal in Chile will be revealed and, during the night, data from the manufacturing sector will be known in China.
Earlier, the National Institute of Statistics (INE) reported that following 20 months in the red, the Trade Activity Index (IAC) grew once more with an annual variation of 2.9% in January, while the Industrial Production Index It grew by 3.6% annually in the first month of the year, its best result since August 2021 (4.2%).
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