EMERGING MARKETS-Latam currencies fall ahead of Doha meeting; Brazil stocks rise
By Bruno Federowski SAO PAULO, April 15 (Reuters) - Latin American currencies weakened across the board on Friday as skepticism over a potential agreement to freeze oil output weighed on commodity prices, while Brazilian stocks rose ahead of a key vote on President Dilma Rousseff's ouster. Traders saw Iran's refusal to participate in a weekend meeting of major exporters in Doha, Qatar, as a sign that any accord would have little effect in reducing global oversupply. Oil prices fell , dragging down currencies from exporters such as Mexico and Colombia . The Chilean peso also fell, tracing weakness in copper, the country's main export. Strong Chinese economic data fostered expectations that the world's top consumer of commodities could reduce its stimulus policies. Local politics took the main stage in Brazil as expectations grew that a two-thirds majority will vote for Rousseff's impeachment in the lower house of Congress on Sunday. That would send the vote to the Senate, the last step before she is put on trial and power is officially handed to Vice President Michel Temer for up to six months as her fate is decided. Temer has been hinting at a market-friendly agenda and many traders believe he would have an easier time passing tough measures in Congress than Rousseff. This was not enough to lift the Brazilian real, however, after the central bank once again intervened heavily in the FX market. "Today's focus is fully on Congress. The central bank might be able to moderate the real's strength, but politics will dictate the currency's movements over the following weeks," said Marcos Trabbold, a trader with B&T brokerage in São Paulo. Key Latin American stock indexes and currencies at 1600 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 846.92 0.17 6.46 MSCI LatAm 2221.76 0.11 21.28 Brazil Bovespa 53279.99 1.66 22.91 Mexico IPC 45532.47 0.28 5.94 Chile IPSA 3952.86 0.06 7.41 Chile IGPA 19395.33 0.14 6.85 Argentina MerVal 13304.11 0.71 13.95 Colombia IGBC 9998.64 -0.85 16.98 Venezuela IBC 16140.03 3.07 10.64 Currencies daily % YTD % change change Latest Brazil real 3.5349 -1.71 11.66 Mexico peso 17.5600 -0.66 -1.88 Chile peso 666.5 -0.41 6.48 Colombia peso 2996.63 -0.08 5.76 Peru sol 3.2759 -0.09 4.22 Argentina peso (interbank) 14.2800 0.39 -9.09 Argentina peso (parallel) 14.87 0.74 -4.03 (Reporting by Bruno Federowski; Editing by Dan Grebler)
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