The Chilean peso has been struggling against the US dollar, losing significant ground after four consecutive sessions of decline. It has dropped below the critical support of the 200-day moving average, now trading at about 960 pesos per dollar. This downturn is largely fueled by disappointing February 2025 economic data showing a 3.6% year-over-year contraction in the Industrial Production Index, driven by a 6.6% drop in mining and other sectors. However, some areas, including real estate and transportation, demonstrate positive growth, suggesting uneven economic trends. The Monthly Economic Activity Index is anticipated for further insights on the peso's future.
The Chilean peso faces downward pressure against the US dollar, losing confidence amid mixed February 2025 economic data, particularly in mining and manufacturing.
Key indicators showed a significant contraction with the Industrial Production Index noting a 3.6% decline, linked mainly to a slump in the mining sector.
Despite challenges, sectors such as real estate and transportation showed impressive growth, indicating mixed trends in domestic consumption and economic confidence.
The upcoming Monthly Economic Activity Index will be vital in determining the near-term trajectory of the Chilean peso amid current economic uncertainties.
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