Sunday , February 28 2021

The dollar climbs to the world and Chile stays stable for commercial negotiations and caution against the Fed

The dollar recovers ground in world markets in the face of the expectation that the Federal Reserve will end its policy of withdrawing monetary stimuli in the afternoon today. In turn, the second round of talks between China and the United States improves the minds of investors.

The Dollar Index – an indicator that measures the performance of the currency in front of a basket of six world currencies – operates with a shy increase of 0.06%.

The currency recovered ground after the publication of the ADP employment data, which revealed that employers in the United States added 213,000 jobs in January, exceeding market expectations.

For the rest of the day, the market will be waiting at the end of the monetary policy meeting of the Fed. In the midst of constant signs of economic slowdown, investors expect the Federal Open Market Committee to maintain the rate from 2.25% to 2.5% at the end of the monetary policy meeting.

At the local level, at the close of operations on the interbank market, the dollar was quoted at $ 667.7, which implies a loss of $ 0.1 compared to the end of the previous day.

The Chilean peso performance occurs despite the breakthrough in copper prices, which is a great reference for the national currency. The red metal contracts for March go up 1.37% and US $ 2.75 are delivered to London, in the midst of optimism for commercial negotiations.

"The dollar is stable despite the sharp rise in copper of 1.37%, which does not have an effect on a greater strengthening of the national weight. Another counterweight measure that helped the dollar to strengthen was the publication of the # 39 ; employment ADP survey, "explains the analyst at Alpari Research, César Valencia.

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