EMERGING MARKETS-Latam currencies rise as Fed seen tightening slowly

martes 24 de noviembre de 2015 11:46 GYT
 

SAO PAULO, Nov 24 (Reuters) - Latin American currencies rose
on Tuesday after U.S. economic growth data supported bets that
the Federal Reserve will take a gradual approach to raising
interest rates after an initial hike next month.
    Although higher U.S. rates could lure investments away from
emerging markets, traders said they had largely adjusted to the
idea of a rate increase in December and were focused instead on
what would come next.
    "The idea is now that the Fed will not go crazy hiking
rates. The transition will be smoother. A couple of hiccups and
that's it," said Pedro Tuesta, an economist with research firm
4Cast.
    The U.S. government earlier on Tuesday upwardly revised its
data to show the U.S. economy growing at a 2.1 percent annual
pace. That could set up the economy to grow at least 2 percent  
in the second half of the year, around its long-term potential.
 
    The Colombian peso rose 0.9 percent, boosted by a rally in
oil prices as the downing of a Russian-made fighter jet
near the Syrian-Turkish border reignited tensions in the Middle
East. The Mexican peso advanced 0.5 percent. 
    The Brazilian real jumped 0.9 percent after the central bank
announced it would sell as much as 500 million reais ($135
milion) in U.S. dollar repurchase agreements, the seventh such
sale this month. The central bank usually steps up so-called
repos at the end of the year to ease the scarcity of dollars due
to seasonal demand.
    Trading volumes were thin in Brazil on the first day of a
two-day central bank policy meeting. According to a Reuters poll
of economists, the bank is likely to hold its benchmark rates at
a nine-year high. 
    
    Latin American stock indexes and currencies at 1525 GMT
    
 Stock indexes                             daily %     YTD %
                               Latest       change    change
 MSCI Emerging Markets            838.78     -0.28    -12.05
                                                    
 MSCI LatAm                      2053.34     -0.57    -24.29
                                                    
 Brazil Bovespa              47549.76228     -1.25     -4.91
                                                    
 Mexico IPC                     44543.52     -0.53      3.24
                                                    
 Chile IPSA                      3764.92     -1.07     -2.23
                                                    
 Chile IGPA                     18504.69     -0.92     -1.94
                                                    
 Argentina MerVal               13503.13       0.4     57.40
                                                    
 Colombia IGBC                      8564     -0.17    -26.39
                                                    
 Venezuela IBC                  13067.79      0.26    238.65
                                                    
                                                            
 Currencies                                daily %     YTD %
                                            change    change
                                  Latest            
 Brazil real                      3.7051      0.75    -28.27
                                                    
 Mexico peso                     16.4748      0.46    -10.51
                                                    
 Chile peso                        709.6      0.73    -14.54
                                                    
 Colombia peso                   3070.07      0.72    -22.22
 Peru sol                          3.375      0.12    -11.73
                                                    
 Argentina peso (interbank)       9.6675      0.05    -11.56
                                                    
 Argentina peso (parallel)          15.2     -0.07     -7.89
                                                    
 
 (Reporting by Bruno Federowski Editing by W Simon)