EMERGING MARKETS-Latam currencies drop on Greece risk, U.S. data

martes 26 de mayo de 2015 10:07 GYT
 

SAO PAULO, May 26 (Reuters) - Latin American currencies
weakened across the board on Tuesday as the U.S. dollar
strengthened on the back of heightened investor concern over
Greece's debt crisis and the outlook for higher U.S. interest
rates.
    Equities were mostly lower, with the MSCI Latin American
stock index on track for its worst intraday loss
in over a week.
    Greece's government on Monday said it intends to make good
on its debt obligations but needs aid urgently to be able to do
so.
    Worries over the possibility of a Greek debt default and its
effect on euro zone economic growth tend to drive investors
towards the safe-have U.S. dollar and away from riskier emerging
market currencies.
    The dollar saw another boost from data on Tuesday showing
U.S. business investment spending plans increased solidly for a
second straight month in April.
    Encouraging U.S. economic data tends to raise investor
expectations that interest rates in the world's largest economy
will rise sooner rather than later, which make higher-yielding
but riskier Latin American securities less attractive.
    The Brazilian real weakened for the fourth straight
session to trade around the 3.12 per dollar level. The real has
seen pressure in recent days on concerns over disagreements
among policymakers on the extent of a fiscal austerity program
aimed at warding off a sovereign credit rating downgrade.
    Data on Tuesday also showed Brazil's current account deficit
widened to $6.901 billion in April from $5.736 billion in March.
    Elsewhere, Colombia's peso traded about 2 percent
weaker, weighed down by lower prices for oil, the
country's leading export. 
    The Mexican and Chilean pesos  saw more muted
moves, trading only slightly lower. 
    In equities markets, Brazil's Bovespa stock index 
erased the previous session's gains and turned lower, driven
down mostly by shares of banks. Brazilian lenders saw their
stocks decline sharply last week as investors digested the
impact of newly-announced income tax changes for the sector.
    Mexico's IPC stock index edged slightly lower for the
sixth straight session, while Chile's IPSA stock index 
was little changed. 
    
    
    Key Latin American stock indexes and currencies at 1357 GMT:

 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets         1028.68     -0.64      8.26
                                                  
 MSCI LatAm                    2572.73     -1.68     -4.07
                                                  
 Brazil Bovespa               54272.22     -0.62      8.53
                                                  
 Mexico IPC                   44600.12     -0.56      3.37
                                                  
 Chile IPSA                     4043.9         0      5.01
                                                  
 Chile IGPA                   19646.32     -0.04      4.11
                                                  
 Argentina MerVal                    0         0   -100.00
                                                  
 Colombia IGBC                10537.38      0.36     -9.43
                                                  
 Peru IGRA                 -            -            -
                                                  
 Venezuela IBC                 9440.83         0    144.66
                                                  
                                                          
 Currencies                              daily %     YTD %
                                          change    change
                                Latest            
 Brazil real                    3.1249     -0.93    -14.96
                                                  
 Mexico peso                   15.2856     -0.20     -3.54
                                                  
 Chile peso                      611.9     -0.15     -0.90
                                                  
 Colombia peso                  2534.5     -2.01     -5.78
 Peru sol                        3.151      0.00     -5.46
                                                  
 Argentina peso                 8.9700      0.03     -4.68
 (interbank)                                      
                                                  
 Argentina peso                   12.6      0.32     11.11
 (parallel)                                       
                                                  
 
 (Reporting by Asher Levine Editing by W Simon)