EMERGING MARKETS-Mexico peso falls, Colombia peso hits record low on oil woes

lunes 25 de enero de 2016 16:20 GYT
 

MEXICO CITY, Jan 25 (Reuters) - Mexico's and Chile's pesos
weakened on Monday as falling oil prices weighed on demand for
riskier assets while Colombia's peso sank to a record low, hurt
by concerns that less crude income will force budget cuts.    
    Crude prices resumed their slide after a strong two-day run
last week, falling more than 4 percent on news that Iraq flooded
a heavily over-supplied oil market with record output. 
    Both Mexico and Colombia are major oil exporters. 
    Mexico's peso  shed 0.6 percent, heading back
toward a record low hit last week, while Colombia's peso
 sank more than 2.6 percent to an all-time low.  
     Colombian Finance Minister Mauricio Cardenas on Monday cut
the government's oil price forecast, saying this could spell
more austerity measures in order to meet the country's fiscal
deficit goal. 
   Chile's peso bid nearly 0.7 percent lower on a drop
in prices for copper, the country's main export.
    Markets in Brazil, Latin America's biggest economy, were
closed for a holiday.
    Emerging market currencies and stocks have been hammered so
far this year amid concerns that slower growth in China could
drag down global growth while worries of a supply glut have
driven down oil prices. 
    Mexico's peso has shed around 8 percent in January and is
heading for its worst monthly loss against the dollar since May
2012. Analysts expect that Mexico could bolster its dollar
auction program this week to support the peso. 
        
  Latin American stock indexes and currencies at 1945 GMT
 Stock indexes                                  daily    YTD %
                                      Latest        %   change
                                               change  
 MSCI Emerging Markets                 716.02    0.75   -10.51
 MSCI LatAm                           1614.44   -0.38   -11.43
 Brazil Bovespa                      38031.22    0.83   -12.27
 Mexico IPC                          41601.71   -0.05    -3.20
 Chile IPSA                           3534.62    0.09    -3.96
 Chile IGPA                          17506.67    0.09    -3.55
 Argentina MerVal                    10373.40    0.42   -11.15
 Colombia IGBC                        8356.37   -0.83    -2.23
 Venezuela IBC                       14465.56    0.22    -0.84
                                                              
 Currencies                                     daily    YTD %
                                                    %   change
                                       Latest  change  
 Brazil real                           4.1000  Closed    -3.43
 Mexico peso                          18.5650   -0.61    -7.19
 Chile peso                             720.7   -0.69    -1.53
 Colombia peso                        3399.00   -2.62    -6.73
 Peru sol                              3.4641   -0.49    -1.45
 Argentina peso (interbank)           13.7900   -0.44    -5.86
                                                       
 Argentina peso (parallel)               14.3    0.35    -0.21
                                                       
 


 (Reporting by Miguel Angel Gutierrez in Mexico City and Nelson
Bocanegra in Bogota; Editing by Chizu Nomiyama)