Dollar fails to come back and closes at $ 595, its lowest level in almost six months

15/05/2015

The dollar ended the session with a sharp drop against the Chilean peso amid a global weakness that affects the US dollar and, incidentally, completed its third session of consecutive setbacks.

The US currency was traded in levels of $ 595,3 buyer and $ 595,6 seller, its lowest level since the 21 of November last year, and which implies a setback of $ 6,2 compared to yesterday's close ($ 601,80).

Today's macroeconomic agenda was marked by new data from the United States: applications for weekly unemployment benefits. The forecasts predict a slight rebound from the 265.000 to the environment of the 275.000.

«Worse-than-expected figures could strengthen expectations of a further delay in the Fed's rate hike, and consequently, a new setback to the dollar«said Expansión.

In terms of currencies, the weakness of the data «macro» in the US that were published yesterday (retail sales), have driven the euro above US$ 1,13 and reached three-month highs.

«Volatile day we had on Wednesday after a battery of known data that led to a generalized depreciation of the dollar. After knowing a disappointing data of retail sales, the reaction was not expected in the currencies before the speculation that the rate hikes in the US. they are postponed«, stated Forex Chile.

At the local level, a new monetary policy meeting of the Central Bank of Chile is being held today.

BCI Estudios anticipates that «Our view points to a maintenance of the MPR at 3% and the neutral bias in the conduct of monetary policy for this meeting, and we expect that the weakness in domestic demand and the absence of inflationary pressures in the future will motivate an invariant MPR throughout the year. 2015«.

Source: Diario Financiero