EMERGING MARKETS-Latam stocks, currencies down on oil, Fed jitters
By Bruno Federowski SAO PAULO, Aug 22 (Reuters) - Latin American stocks and currencies fell on Monday as crude prices dropped nearly 3 percent and comments from a senior U.S. Federal Reserve policymaker boosted bets on an imminent interest rate increase. Oil futures retreated after China's exports of refined fuel products soared and U.S. drillers added oil rigs for an eighth straight week. Prospects of more Iraqi and Nigerian crude shipments also weighed on crude. Currencies from oil exporters, such as the Colombian and Mexican pesos, weakened sharply, while shares of state-controlled oil company Petróleo Brasileiro SA dragged down Brazil's benchmark Bovespa stock index . Fears that higher U.S. interest rates could drain capital from emerging markets also depressed appetite for high-yielding assets after Fed Vice Chair Stanley Fischer said the U.S. central bank is close to its employment and inflation targets. His comments came after New York Fed President William Dudley said last week that a rate hike was possible as soon as next month. Traders now await Fed Chair Janet Yellen's remarks on Friday at the annual central bankers' meeting in Jackson Hole, Wyoming, for clues over whether the central bank is keen to raise rates in the coming months. "If Yellen sticks to the tone of the latest speeches (by Fed policymakers), the dollar will probably strengthen even more," said João Paulo de Gracia Corrêa, a trader with SLW brokerage. Key Latin American stock indexes and currencies at 1545 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 904.29 -0.66 14.63 MSCI LatAm 2447.76 -1.47 35.76 Brazil Bovespa 58158.53 -1.59 34.16 Mexico IPC 47968.19 -0.68 11.61 Chile IPSA 4139.69 -0.19 12.49 Chile IGPA 20464.38 -0.14 12.74 Argentina MerVal 15505.77 -0.59 32.81 Colombia IGBC 9899.45 -0.39 15.82 Venezuela IBC 12185.14 -0.59 -16.47 Currencies daily % YTD % change change Latest Brazil real 3.2235 -0.53 22.44 Mexico peso 18.3340 -0.62 -6.02 Chile peso 668.6 -1.32 6.15 Colombia peso 2890.1 -1.13 9.66 Peru sol 3.341 -0.63 2.18 Argentina peso (interbank) 14.9150 0.10 -12.96 Argentina peso (parallel) 15.38 0.26 -7.22 (Reporting by Bruno Federowski; Editing by Paul Simao)
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