EMERGING MARKETS-Colombian peso drops on falling oil prices; Latam currencies steady

viernes 4 de diciembre de 2015 12:10 GYT

SAO PAULO, Dec 4 (Reuters) - The Colombian peso
underperformed mostly flat Latin American currencies, tracking a
decline in oil prices after news that OPEC was planning to
maintain its production near record highs.
    The group decided to increase its collective output ceiling
to 31.5 million barrels per day (bpd) from the previous 30
million, two OPEC sources told Reuters, despite persistent
worries about oversupply. Oil prices  fell as a
result, contributing to a 1 percent drop in the Colombian peso
    Other Latin American currencies, such as the Chilean peso
 and the Mexican peso, were nearly unchanged as
investors brooded over stronger-than-expected U.S. jobs data.
    The employment numbers bolstered the case for a U.S.
interest rate hike in December, which could draw investments
away from emerging markets. In general, however, traders looked
favorably upon signs of strength in the world's largest economy.
    "What matters now is the tone of the Fed, not if there will
be a hike or not (in December)," said Pedro Tuesta, an economist
with 4Cast in Washington D.C.
    The Brazilian real see-sawed, as investors continued
to argue over the implications of the opening of impeachment
proceedings against President Dilma Rousseff. Some traders bet
that a change in government, although still a remote
possibility, could help turn around an ailing economy, But many
pointed out that political turmoil could delay the approval of
fiscal austerity measures.
    Ratings agency Moody's Investors Service said on Thursday
impeachment proceedings in Brazil may worsen short-term growth
prospects. Standard & Poor's stripped the country of its coveted
investment grade in September, arguing that political problems
had muddled economic policy.
    Latin American stock indexes and currencies at 1510 GMT:
 Stock indexes                                daily %   YTD %
                                     Latest    change  change
 MSCI Emerging Markets                811.24    -0.98  -14.33
 MSCI LatAm                          1951.12    -0.67  -27.98
 Brazil Bovespa                     45284.06    -2.39   -9.45
 Mexico IPC                         42976.46    -0.12   -0.39
 Chile IPSA                          3598.35    -0.19   -6.56
 Chile IGPA                         17787.61    -0.11   -5.74
 Argentina MerVal                  12822.029    -0.75   49.46
 Colombia IGBC                       8035.94     -1.2  -30.93
 Venezuela IBC                      12897.75     0.14  234.25
 Currencies                                   daily %   YTD %
                                               change  change
 Brazil real                          3.7310     0.46  -28.77
 Mexico peso                         16.6997     0.07  -11.71
 Chile peso                            701.4    -0.06  -13.54
 Colombia peso                       3180.05    -1.20  -24.91
 Peru sol                             3.3741    -0.18  -11.71
 Argentina peso (interbank)           9.7200     0.00  -12.04
 Argentina peso (parallel)             14.61     0.82   -4.18
 (Repoting by Bruno Federowski; Editing by Frances Kerry)