Forex News

The Chilean peso rose today as the outlook for the exports of the raw materials improved after the US and China reported about the better-than-expected growth of the manufacturing.

The Chilean peso weakened today against the euro as the industrial output and sales rose less than forecast and the mining production fell.

The Chilean peso declined today versus the euro as the global equities and the commodity prices dropped, feeling the impact of the banking troubles in Spain and the conflict on the Korean peninsula.

The Chilean peso gained, cutting its losing streak, which it experienced for three weeks, on speculation that the government and insurers may start selling dollars, to pay for fixing the damage caused by the earthquake with a magnitude of 8.8 magnitude.

The Chilean peso oddly profited from a natural tragedy that impacted the country in the first night of this month, as speculations suggest that the reconstruction process in the country, will allow the country’s economy to accelerate.

The Chilean peso suffered with the side effects of positive reports in North America that attracted traders to purchase assets in the U.S., leaving emerging markets in a second plan for traders to invest their money, despite a considerable level of risk appetite in today’s session.

The Chilean peso is facing its longest losing trend in more than a year as a combination of international risk aversion with poor national economic data is causing an exodus of capital from one of South America’s most dynamic economy.

The Chilean peso outperformed most of the main traded currencies as a copper price rally boosted appeal for assets in Chile, which declined this Friday after the metallic commodities failed to extend their gains.

The Chilean peso had its first advance in five days as optimism towards the U.S. economic recovery returned to trade markets fueling demand for raw materials produced in the South American nation.

The Chilean peso had a rally that set it to the highest rate in 2009 stopped after the central bank made a declaration regarding the current currency’s strength.