EMERGING MARKETS-Latam currencies steady as U.S. inventory build lifts oil prices

miércoles 20 de abril de 2016 12:06 GYT
 

By Bruno Federowski
    SAO PAULO, April 20 (Reuters) - Most Latin American
currencies steadied on Wednesday after oil prices turned
positive following a smaller-than-expected U.S. crude inventory
build.
    The U.S. government's Energy Information Administration said
crude stockpiles rose 2.1 million barrels last week, less than
the 2.4 million barrel build forecast by analysts polled by
Reuters and the 3.1 million barrel rise called by the American
Petroleum Institute industry group. 
    Crude prices had slumped earlier on Wednesday following the
end of a worker strike in Kuwait which had nearly halved output
in the OPEC-member nation. 
    The Mexican peso  strengthened about 0.2
percent after earlier falling by as much as 0.4 percent. The
Colombian peso treaded water, supported by expectations
of higher rates.
    The Brazilian real weakened after local news outlets
suggested Vice President Michel Temer could be struggling to set
up an orthodox economic team amid a deep economic rout.
    "Given the economic crisis, it seems it will not be easy to
find someone who is willing to step up to the task," B&T
brokerage FX trader Marcos Trabbold said.
    A widely expected Senate decision to oust leftist President
Dilma Rousseff's could put Temer in charge by early May as she
faces a prolonged upper-house trial. 
    A central bank decision to once again sell reverse currency
swaps, which function like dollar purchases in futures markets,
after staying put for a day also weighed on the real currency. 
    A senior government official told Reuters on Tuesday the
central bank will intervene less in the foreign exchange market
as it expects volatility to ease in the coming days.
    
    Key Latin American stock indexes and currencies at 1555 GMT:
 Stock indexes                               daily %    YTD %
                                              change   change
                                   Latest             
 MSCI Emerging Markets               850.17     -0.3     7.38
 MSCI LatAm                         2243.73    -0.25    22.93
 Brazil Bovespa                    53477.54    -0.43    23.36
 Mexico IPC                        45534.60    -0.54     5.95
 Chile IPSA                         3984.32    -0.13     8.26
 Chile IGPA                        19546.38     -0.1     7.68
 Argentina MerVal                  14010.47     1.05    20.00
 Colombia IGBC                     10143.45     0.78    18.67
 Venezuela IBC                     16115.40     0.05    10.47
                                                             
 Currencies                                  daily %    YTD %
                                              change   change
                                                      
                                     Latest           
 Brazil real                         3.5446    -0.49    11.35
 Mexico peso                        17.2525     0.33    -0.13
 Chile peso                           658.7     0.35     7.74
 Colombia peso                         2898    -0.07     9.36
 Peru sol                             3.243     0.19     5.27
 Argentina peso (interbank)         14.2450    -0.39    -8.86
                                                      
 Argentina peso (parallel)            14.73     0.00    -3.12
                                                      
 

 (Reporting by Bruno Federowski; Editing by Grant McCool)