Chile’s Peso Tests The 900 Line As Stocks Hold Near Records
Key Points
- USD/CLP is trading near 906–907 after Friday’s 900.80 low, with DXY around 98 and copper near a record $5.56/lb.
- The IPSA closed Friday up 0.93% at 10,483.15, but traders warn late-December liquidity is thin.
- Technicals still favor peso strength; equities look stretched.
USD/CLP came close to the psychological 900 level and bounced. It hit about 900.80, was cited around 904.15 intraday, and still finished near 907.4.
Early Monday it traded around 906.72 on one electronic feed, while another widely watched snapshot showed 905.90 (prior close 904.42).
On the equity side, the IPSA ended at 10,483.15 and turnover clustered in the usual leaders. By traded value, SQM-B led at roughly CLP 14.8bn and LATAM followed at about CLP 12.9bn, then Banco de Chile, Santander Chile and Cencosud.
The day’s top gainers were ABC-OSA (+61.29%), CTC (+9.85%), IAU (+7.62%), SLV (+7.34%) and CVS (+5.91%). The worst were HPQCL (-6.22%), Schwager (-2.48%), Enjoy (-1.71%), Parque Arauco (-1.52%) and Socovesa (-1.21%).
Fundamentals still lean supportive, and the rally is pricing a more market-friendly policy mix after December’s election. The central bank cut 25 bps to 4.5% on December 16 and expects inflation at 3% in Q1 2026; it has also highlighted copper above $5/lb as a tailwind.
Private investment is being projected around $17.07bn for 2026 after an estimated 7% rise in 2025 FBCF, led by mining and energy. FX participation is rising too: Datatec turnover climbed 10.98% in 2025 to $5.46bn, highest since 2015.
Technically, USD/CLP support sits at 900–901, with resistance at 906–908 and then 915–918 into the 920s. RSI is about 37.42 on the daily chart and 42.94 on 4-hour, with MACD still negative. The IPSA looks hot, with RSI about 69.93 and 69.20 (4h), and positive MACD that is starting to cool.
Offshore access reflects the tone: the Chile ETF ECH has about $1.03bn in assets, a $40.47 NAV, a +1.02% one-day move on Dec. 26, and roughly 153,212 shares traded; comparable daily net flow figures are not consistently readable from public pages.
Investors are paying up for stability and rules-based signals, and marking down the intervention-first rhetoric that keeps resurfacing across the region.
Live Market IntelligenceChile — Live Market Board
Rio Times · Live Market Intelligence
Chile — Live Market Board
+0.34%
166,334.86
-0.27%
64,301.04
+0.07%
11,186.57
+0.34%
2,891,651
-1.89%
2,461.23
+0.36%
58,401.58
-1.35%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IPSA | 11,186.57 | +0.34% | — | 11,148.13 | 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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