USD/CLP drifts lower, US data misses weigh on the peso
Friday, May 15, 2015 2:34 PM UTC
- USD/CLP edges lower after US IP data underwhelms, U Mich disappoints
- Light support by 592.30 Nov 21 low, then 592.05 Nov 4 low, 573.95 Nov 3 low, resistance at 596.89 daily pivot
- Weak data likely delays US liftoff, suits BCCh as growth remains a concern
- Chilean inflation above upper limit, BCChs Vergara expects to hike late '15/early '16
- Chilean hikes with US to keep yield diff with US steady, 5-year at +281bps