Chilean Peso Firms As Copper Steadies; IPSA Cools After Record Run
The Chilean peso traded around 929–933 per dollar this morning, firmer than Thursday’s lows, as a softer U.S. dollar and resilient copper kept risk appetite intact.
The dollar index hovered near the 99 handle after a week of slippage, removing a headwind for Latin American FX and giving CLP room to recover.
On the 4-hour USD/CLP chart, price rebounded from 926–927 but remains below the 50/100/200 EMAs. MACD is negative with a mild hook higher and RSI has lifted from the low-30s—an oversold bounce within a short-term downtrend.
The daily chart shows candles hugging the lower Bollinger band, RSI near 33 and a firmly negative MACD. Unless DXY stages a fresh upswing or copper weakens sharply, the bias favors a grind toward 920–923 support, with initial resistance layered at 938–944.
Equities in Santiago paused after a powerful multi-week rally. The S&P IPSA closed Thursday at 9,710.38, down 1.85% from recent highs, a move that looks like routine profit-taking rather than a break in trend.
Chile exposure continues to attract foreign interest: turnover in the iShares MSCI Chile ETF outpaced recent averages, consistent with active allocation to a copper-levered market even as global risk sentiment wobbled.
Under the surface, rate and inflation dynamics remain supportive. October inflation cooled to 3.4% year over year while the policy rate sits near 5.0%, preserving positive real carry that helps cushion the peso—provided copper stays constructive and fiscal rhetoric doesn’t spook investors.
Top movers on the IPSA (Thursday close)
Winners: Aguas Andinas (+3.35%), Bicecorp (+4.74%), AFP Habitat (+3.98%), AFP Provida (+3.89%), CAP (+1.46%).
Losers: Cencosud (−3.70%), Banco de Crédito e Inversiones (−3.46%), Banco de Chile (−2.86%), Itaú CorpBanca (−2.72%), CMPC (−2.51%).
What to watch today: intraday copper headlines on inventories and mine supply (fastest transmission channel into CLP); DXY’s trajectory around 99; USD/CLP support at 920–923 and resistance at 938–944; and whether IPSA holds the 9,560–9,600 cushion. Sustained foreign flows would argue the equity uptrend remains intact despite near-term volatility.
Key Facts
— Deep Dive
— For the complete picture, read our in-depth guide: Latin America Stock Markets 2026: Ibovespa, Merval, COLCAP, IPSA and IPC Guide
Live Market IntelligenceChile — Live Market Board
Rio Times · Live Market Intelligence
Chile — Live Market Board
+0.49%
167,830.27
+0.90%
64,193.66
+0.41%
11,241.32
+0.49%
2,874,493
-0.59%
2,453.87
-0.30%
57,612.45
+1.33%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IPSA | 11,241.32 | +0.49% | — | 11,186.57 | 11,210 | 10,984 | 1,513,213,483 |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| COPPER | 6.61 | +0.03% | +46.70% | 6.61 | 6.71 | 6.61 | 39,543 |
| SQM-B | 65,305 | -0.84% | +49.03% | 65,860 | 66,949 | 64,978 | 76,539 |
| COPEC | 5,964 | -1.09% | -11.70% | 6,030 | 6,100 | 5,960 | 634,331 |
| BSANTANDER | 78.37 | -2.28% | +35.94% | 80.20 | 81.69 | 78.34 | 36,288,711 |
| FALABELLA | 6,334 | -1.48% | +23.28% | 6,429 | 6,450 | 6,300 | 26,085,814 |
| ENELAM | 87.09 | +0.10% | -10.13% | 87.00 | 87.40 | 86.50 | 13,106,417 |
| CENCOSUD | 1,946 | -2.19% | -35.30% | 1,990 | 2,010 | 1,945 | 966,528 |
| CMPC | 1,020 | -1.96% | -29.10% | 1,040 | 1,050 | 1,015 | 3,526,677 |
| BANCO CHILE | 184.96 | -1.01% | +32.87% | 186.85 | 189.99 | 184.33 | 18,101,240 |
| LATAM AIR | 24.08 | -1.11% | +16.61% | 24.35 | 24.59 | 23.88 | 573,612,753 |
| SOUTHERN COPPER | 193.97 | -0.26% | +104.01% | 194.48 | 199.36 | 192.59 | 367,102 |
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