Latam assets drop ahead of data heavy week; Colombia data on tap
Colombia CPI awaited, inflation expected to ease
Mexico's Gruma down after antitrust watchdog ruling
MSCI Latam FX index down 0.5%, stocks slide 0.8%
Updated at 1838 GMT
By Shashwat Chauhan and Johann M Cherian
Oct 7 (Reuters) - MostLatin American currencies and stocks slippedon Monday, ahead of a week filled with economic data and a policy decision out of Peru, while Colombia's peso weakened as traders awaited a key inflation report.
Colombia's peso COP= depreciated over 1% against the dollar, while yields on 10-year bonds CO10YT=RR ticked up 11 basis points, ahead of a consumer prices report due at 1900 GMT, with economists polled by Reuters expecting inflation to ease to 5.83% in September.
Win Thin, Brown Brothers Harriman's global head of market strategy, expects the country's central bank to cut interest rates by 50 basis points to 9.75% at its next meeting on October 31.
The currency has declined about 8% so far this year as the local central bank, like most other regulators in the region kicked off monetary policy easing, while signs of domestic fiscal instability has also weighed on the peso.
Brazil's real BRL= weakened to 5.48 per dollar, ahead of consumer inflation data out of the region's largest economy expected later in the week.
Mexico's peso MXN= edged down by 0.2% ahead of a local inflation report due on Wednesday.Laws that will implement a judicial overhaul enacted in Mexico last month should be presented in Congress in the coming days, lower house leader Ricardo Monreal said over the weekend.
Copper exporter Chile's peso CLP= slipped 0.2% tracking a dip in prices of the red metal, as investors braced for a briefing on top consumer China's policies to promote economic growth on Tuesday.
Peru's sol PEN= was unchanged ahead of a interest rate decision on Thursday.
The MSCI's index for Latin American currencies .MILA00000CUS edged lower by 0.6%, against the greenbackthat traded flat.
U.S. data pointing to a robust jobs market wiped off most bets favoringlarge interest rate cuts by the Federal Reserve forthe rest of this year.
Mauro Roca, managing director of emerging markets at TCW said the Fed and the dollar will be the main drivers for EM currencies in the near term.
The MSCI's index for Latin American stocks .MILA00000PUS dropped 0.8%, with Mexico's bourse .MXX down 0.8%.
Mexico's Gruma GRUMAB.MX slipped more than 9% after Mexico's antitrust watchdog said that the corn flour and tortilla-maker can fix prices in the market.
Brazilian equities .BVSP were up 0.2%, supported by rising commodity-linked stocks such as ValeVALE3.SA and PetrobrasPETR4.SA.
Argentina's MerVal index .MERV slid 2.4%.
Elsewhere in emerging markets, Uganda's central bank trimmed its key lending rate by 25 basis points for the second time in a row, lowering it to 9.75%, saying that inflation was expected to remain below its target in the near term.
Key Latin American stock indexes and currencies:
Latin American market prices from Reuters | ||
Equities | Latest | Daily % change |
MSCI Emerging Markets .MSCIEF | 1183.48 | 0.35 |
MSCI LatAm .MILA00000PUS | 2230.45 | -0.83 |
Brazil Bovespa .BVSP | 131986.93 | 0.15 |
Mexico IPC .MXX | 52189.21 | -0.8 |
Chile IPSA .SPIPSA | 6450.59 | -0.47 |
Argentina Merval .MERV | 1713371.49 | -2.456 |
Colombia COLCAP .COLCAP | 1306.23 | 0.18 |
Currencies | Latest | Daily % change |
Brazil real BRL= | 5.4805 | -0.46 |
Mexico peso MXN= | 19.3075 | -0.26 |
Chile peso CLP= | 925.88 | -0.2 |
Colombia peso COP= | 4212.17 | -1.26 |
Peru sol PEN= | 3.7197 | flat |
Argentina peso (interbank) ARS=RASL | 974.5 | -0.31 |
Argentina peso (parallel) ARSB= | 1170 | 2.14 |
Reporting by Shashwat Chauhan and Johann M Cherian in Bengaluru; editing by Barbara Lewis and Nick Zieminski
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
