EMERGING MARKETS-Latam currencies up as weak growth in China boosts stimulus bets

martes 19 de enero de 2016 10:48 GYT
 

By Bruno Federowski
    SAO PAULO, Jan 19 (Reuters) - Latin American currencies
strengthened on Tuesday after data showing slower growth in
China boosted bets on fresh economic stimulus in the world's top
consumer of commodities.
    China's economy grew at its weakest pace in a quarter of a
century last year but the country's shares rose as investors
expected Beijing to fight the slowdown with measures to spur
growth. 
    A recovery in oil prices also helped feed demand for
high-yielding assets, lifting currencies such as the Mexican
peso and the Colombian peso.
    The Brazilian real was nearly unchanged, while yields
paid on short-term interest rate futures contracts in the
country <0#2DIJ:> dropped sharply.
    Traders bet that Brazil's central bank could raise its
benchmark rate less than expected or keep it stable after the
bank's president said he would take into account a "significant"
cut in the country's growth outlook. 
    "It is strange that they release a statement like this on
the first day of a (two-day) policy meeting, to say the least,"
said Arlindo Sá, head of interest rates trading at Icap
brokerage in Sao Paulo. "I still believe that the chances of an
increase are bigger but I would not be surprised if rates are
left untouched."
        
    Latin American stock indexes and currencies at 1420 GMT:
 Stock indexes                               daily %     YTD %
                                              change    change
                                   Latest             
 MSCI Emerging Markets               715.45     1.71    -11.42
 MSCI LatAm                         1626.72     1.11    -12.07
 Brazil Bovespa                    38472.88     1.41    -11.25
 Chile IPSA                         3507.33     0.96     -4.70
 Chile IGPA                        17387.34     0.82     -4.21
 Venezuela IBC                     14466.05     6.42    274.89
                                                              
 Currencies                                  daily %     YTD %
                                              change    change
                                                      
                                     Latest           
 Brazil real                         4.0297     0.05    -34.05
 Mexico peso                        18.1443     0.31    -18.74
 Chile peso                           724.8     0.72    -16.34
 Colombia peso                       3282.5     0.51    -27.25
 Peru sol                            3.4291     0.12    -13.13
 Argentina peso (interbank)         13.5300    -0.59    -36.81
                                                      
 Argentina peso (parallel)            14.32     0.42     -2.23