EMERGING MARKETS-Latam currencies strengthen as oil recovers ahead of Fed

martes 15 de diciembre de 2015 10:42 GYT
 

SAO PAULO, Dec 15 (Reuters) - Latin American currencies
strengthened on Tuesday after a rise in oil prices rekindled
demand for risky assets as the U.S. Federal Reserve began a
widely anticipated two-day policy meeting.
    Traders believe the U.S. central bank will raise benchmark
rates for the first time in almost a decade, while signaling
that it will proceed slowly with additional increases. 
    Though higher U.S. rates could pull investments away from
emerging markets, traders said market reaction will hinge on the
Fed's hints about what it will do next.
    The Colombian peso advanced 0.3 percent as oil prices
  recovered from near 11-year lows. The Mexican
peso rose about 0.9 percent.
    The Brazilian real strengthened 0.7 percent as traders
considered the implications of the latest developments in a
sweeping corruption probe. 
    Brazilian police searched the homes of Lower House Speaker
Eduardo Cunha and other politicians on Tuesday as part of an
investigation of a bribery scandal stemming from state-run oil
company Petroleo Brasileiro SA. 
    Cunha has played a pivotal role in efforts to impeach
left-leaning President Dilma Rousseff, which has been cheered by
traders. However, his rift with Rousseff has also hampered the
approval of austerity measures in Congress that credit-rating
agencies have called key for Brazil's investment-grade rating.
    
    Latin American stock indexes and currencies at 1400 GMT:    
 Stock indexes                               daily %    YTD %
                                              change   change
                                   Latest             
 MSCI Emerging Markets                779.7      1.1   -19.35
 MSCI LatAm                         1867.69     1.57   -32.58
 Brazil Bovespa                    45293.36     1.22    -9.43
 Chile IPSA                         3560.65     0.79    -7.54
 Chile IGPA                        17613.06     0.69    -6.66
                                                             
 Currencies                                  daily %    YTD %
                                              change   change
                                                      
                                     Latest           
 Brazil real                         3.8560     0.73   -31.08
 Mexico peso                         17.165     0.89   -14.10
 Chile peso                           708.9     0.40   -14.46
 Colombia peso                      3340.64     0.28   -28.52
 Peru sol                             3.373     0.03   -11.68
 Argentina peso (interbank)          9.8025    -0.18   -12.78
                                                      
 Argentina peso (parallel)            14.64     1.50    -4.37
                                                      
 
 (Reporting by Bruno Federowski; Editing by Nick Zieminski)