Oil Prices: Chile's economy is highly dependent on copper exports. Higher oil prices can increase production costs for copper mining and transportation, potentially weakening the Chilean Peso (CLF) against the USD.

Copper Prices: As a major copper exporter, Chile's currency is strongly tied to copper prices. Increases in global copper prices typically strengthen the CLF relative to the USD. Conversely, falling copper prices weaken it.

Interest Rate Differentials: Differences in interest rates between Chile and the United States can affect capital flows. Higher Chilean interest rates can attract foreign investment, boosting the CLF.

Global Risk Sentiment: During periods of global economic uncertainty or risk aversion, investors often seek safe-haven assets like the USD, leading to a weaker CLF. Stable or improving global sentiment typically benefits the CLF.

Chilean Economic Data: Strong economic data from Chile, such as GDP growth, inflation figures, and employment numbers, can increase confidence in the Chilean economy and strengthen the CLF. Weak data has the opposite effect.