EMERGING MARKETS-Latam currencies rally on oil rebound, stimulus bets

viernes 22 de enero de 2016 10:47 GYT

By Bruno Federowski
    SAO PAULO, Jan 22 (Reuters) - Latin American currencies
rallied on Friday as a rebound in oil prices and bets on new
economic stimulus in the euro zone rekindled global risk
    A cold snap across the United States and Europe raised
expectations of more demand for heating oil, lifting crude
prices from 12-year lows. Comments by European Central Bank
President Mario Draghi hinting at fresh stimulus also helped
investor sentiment.  
    The Mexican peso and the Colombian peso 
strengthened over 1 percent. Both countries are major oil
    The Brazilian real also got a lift from higher
commodity prices, advancing 1.1 percent after closing the
previous session at an all-time low. Traders remained cautious,
however, following an unexpected central bank decision on
Wednesday to leave interest rates stable. 
    "Although we do not believe today's relief will last, it
should be enough to end the week on a positive note," Guide
Investimentos analysts wrote in a client note.
    The Argentine peso underperformed, weakening 0.7
percent ahead of a meeting on Feb. 1 between government
officials and U.S. holdout creditors. President Mauricio Macri
said on Friday he hoped to reach a settlement early this year,
although negotiations have not progressed much. 
    Latin American stock indexes and currencies at 1430 GMT:
 Stock indexes                             daily %    YTD %
                               Latest       change   change
 MSCI Emerging Markets            710.46      3.19    -13.3
 MSCI LatAm                       1613.9      1.94   -13.48
 Brazil Bovespa                 38241.40      1.39   -11.78
 Chile IPSA                      3531.25      1.63    -4.05
 Chile IGPA                     17487.18      1.43    -3.66
 Argentina MerVal               10289.22      4.78   -11.87
 Venezuela IBC                  14452.36     -0.28   274.54
 Currencies                                daily %    YTD %
                                            change   change
 Brazil real                      4.1195      1.09   -35.49
 Mexico peso                     18.3999      1.79   -19.87
 Chile peso                        713.2      1.61   -14.97
 Colombia peso                      3266      1.59   -26.88
 Peru sol                         3.4451      0.06   -13.53
 Argentina peso (interbank)      13.7100     -0.73   -37.64
 Argentina peso (parallel)         14.31      0.28    -2.17
 (Reporting by Bruno Federowski Editing by W Simon)