EMERGING MARKETS-Latam currencies slide on China, oil; Mexico peso at record low

viernes 15 de enero de 2016 18:50 GYT
 

(Updates with closing prices)
    By Bruno Federowski
    SAO PAULO, Jan 15 (Reuters) - Latin American currencies sold
off on Friday as weakness in China shares and another tumble in
oil prices reignited global risk aversion, driving the Mexican
peso to a record low and its biggest fall in nearly two and a
half years.
    A round of tepid Chinese credit data triggered a slump in
the country's bourses, with the Shanghai index closing at its
lowest since December 2014. The move took its toll on
commodities prices as traders anticipated lower demand.
 
    Oil prices closed below $30 a barrel for the first time in
12 years, and were also pressured by bets of higher supply due
to a possible easing of international sanctions on Iran. 
    The Mexican peso hit an all-time low of 18.3240 per
dollar, falling 2.2 percent in its sharpest fall since August
2013, while the Colombian peso also slumped 2.2 percent.
    The Brazilian real weakened 1.2 percent, hit by
concerns of looser fiscal policy after President Dilma Rousseff
said expanding credit at state banks does not contradict current
tight monetary policy. Rousseff's government is struggling to
bring down high inflation despite a deepening economic
recession. 
    The Peruvian sol retreated only 0.2 percent after
the country's central bank raised benchmark rates by 0.25
percentage points, to 4.00 percent. The decision came in line
with market estimates, though a sizeable minority of analysts
expected rates to be kept stable. 
    "The central bank's hawkish bias remains in place and we
expect persistently high inflation to prompt the central bank to
keep normalizing monetary policy in" the first half of 2016,
J.P. Morgan analysts wrote in a note to clients.
    The Chilean central bank held its benchmark rate at 3.5
percent on Thursday, as expected. 
    
    Latin American stock indexes and currencies at 2200 GMT:
 Stock indexes               Latest          Daily   YTD pct
                                               pct    change
                                            change  
 MSCI Emerging Markets            709.19     -1.93     -10.7
                                                    
 MSCI LatAm                     1,625.73     -3.28    -11.15
 Brazil Bovespa                38,569.13     -2.36    -11.03
 Mexico IPC                    40,847.70     -1.22     -4.96
 Chile IPSA                     3,486.34     -1.72     -5.27
 Chile IGPA                    17,297.23      -1.5     -4.71
 Argentina MerVal              10,020.37     -6.05    -14.17
 Colombia IGBC                  8,041.60     -2.71     -5.92
 Venezuela IBC                 14,496.76     -0.46      0.63
                                                            
 Currencies                       Latest     Daily   YTD pct
                                               pct    change
                                            change  
 Brazil real                      4.0453     -1.23     -2.13
 Mexico peso                     18.2700     -2.19     -5.69
 Chile peso                        731.2     -0.85     -2.94
 Colombia peso                  3,298.57     -2.23     -3.92
 Peru sol                         3.4291     -0.20     -0.44
 Argentina peso (interbank)      13.4000     -1.27     -3.12
                                                    
 Argentina peso (parallel)         14.33      0.56     -0.42
                                                    
 
 (Additional reporting by Anna Yukhananov; editing by Nick
Zieminski, G Crosse)