EMERGING MARKETS-Latam currencies seesaw ahead of Fed minutes

miércoles 6 de abril de 2016 12:07 GYT
 

By Bruno Federowski
    SAO PAULO, April 6 (Reuters) - Latin American currencies
seesawed on Wednesday ahead of minutes from the last policy
meeting of the U.S. Federal Reserve.
    Over the past two weeks, Fed policymakers including Chair
Janet Yellen have raised questions over the timing of the next
U.S. interest rate increase, sparking volatility in financial
markets.
    Emerging market assets, which typically offer high yields,
could suffer from capital outflows by policy tightening in the
United States, traders said.
    The Brazilian real strengthened after the central
bank refrained from intervening to weaken the currency after
doing so repeatedly over the last weeks. However, the country's
benchmark Bovespa stock index fell as traders pared bets
on President Dilma Rousseff's ouster.
    Many investors regard the interventionist policies pursued
during her first term in government as a key cause behind
Brazil's ongoing economic slump.
    Markets have often rallied when chances of her impeachment
seemed to increase, but expectations have been growing that the
government could survive the impeachment proceedings.
    Shares of state-controlled oil company Petroleo Brasileiro
SA were flat despite a nearly 5 percent jump in crude
prices. State-owned bank Banco do Brasil SA also
fell.
    Shares of Marfrig Global Foods SA rose 2 percent
after the company agreed to sell units in Argentina to a
subsidiary of China's Foresun Group for $75 million.
 
    
    Key Latin American stock indexes and currencies at 1545 GMT:
 Stock indexes                               daily %   YTD %
                                              change  change
                                  Latest              
 MSCI Emerging Markets               810.78    -0.27    2.37
 MSCI LatAm                         2064.25    -0.24   13.08
 Brazil Bovespa                    48576.45    -0.97   12.06
 Mexico IPC                        45278.31      0.2    5.35
 Chile IPSA                         3894.15    -0.67    5.81
 Chile IGPA                        19105.04    -0.58    5.25
 Argentina MerVal                  12515.95     0.34    7.20
 Colombia IGBC                      9731.87     0.25   13.86
 Venezuela IBC                     14903.51     0.05    2.16
                                                            
 Currencies                                  daily %   YTD %
                                              change  change
                                     Latest           
 Brazil real                         3.6527     0.76    8.06
 Mexico peso                        17.6650     0.14   -2.46
                                                      
 Chile peso                           674.9     0.09    5.16
 Colombia peso                      3074.15     0.35    3.09
 Peru sol                            3.3731    -0.30    1.21
 Argentina peso (interbank)         14.6750     0.07  -11.53
                                                      
 Argentina peso (parallel)            14.97     0.87   -4.68
                                                      
 

 (Reporting by Bruno Federowski; Additional reporting by Paula
Arend Laier; Editing by Diane Craft)