The day was marked by a series of relevant data, such as the job creation in the US and the Chilean CPI, which although it was below the estimate accumulates a significant year-on-year increase. In the midst of this scenario, the dollar ended its operations with a strong rebound and once more exceeded the barrier of $970.
The currency reached $973.88 and was up $21.71. During the week, it accumulated an advance of $41.22. The US currency posted its biggest weekly rise since February 20, 2009, and the Chilean peso is the third currency that has depreciated the most in the world.
“In parallel, and justifying the aggressive increase in the greenback in this session, we learned in Chile the CPI data delivered by the National Institute of Statistics (INE) that climbed slightly below expectations, by 0.9% and also We saw a new session where the future price of copper fell by 1.4%, trading at $3.5225 per pound of copper on the London Metal Exchange (LME),” said Sergio Cisternas of Libertex.
Better-than-expected labor data reinforces the possibility that the Fed will apply more aggressive rate hikes.
“This situation generated in the greenback is due to the non-agricultural employment data that was released from the United States, which exceeded expectations with an increase of 370,000 jobs. The foregoing shows solidity in the labor market, which gives the Federal Reserve free rein to be more aggressive in raising interest rates in order to control inflation,” said Esteban Zendrini of XTB Latam.
Copper, for its part, posted a slight drop on the London Metal Exchange.
