The dollar fell $15 on the first day of the month after surprise growth of the Indicator of Economic Activity in Chile (Imacec) and optimistic prospects for Chinese companies.
The price of the greenback closed at $812.93 after touching floors close to $810. This occurred when the Central Bank reported a year-on-year Imacec of 0.4%, a higher value than expected and a change in the four months of constant falls.
The head of Capitaria Trading studies, Ricardo Bustamante, explained that “the Imacec exceeded the latest estimates that pointed to a fall between 0.5% and 0.1%, supporting the momentum of the Chilean peso and being an additional bearish argument for the greenback”.
Added to this is the recovery of the Chinese market as the Chinese manufacturing sector Purchasing Managers’ Index (MPI) rose more than expected to 52.6 points, its highest level since 2o12.
Therefore, the price of Comex copper rose 1.37%, reaching US $ 4.14 per pound. In addition, the two-year Treasury note continued this upward trend by reaching 4.8 basis points, new highs since 2007.
SaxoBank strategists in their daily report said: “Copper, aluminium, zinc and iron ore rose following a series of economic data from China that showed improved factory activity as well as higher home sales, boosting expectations that the recovery in demand will accelerate and once again replacing concerns about the economic impact of further hikes. of rates in the US”.
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