March 12, 2019 / 4:02 PM / 6 months ago

EMERGING MARKETS-Latam FX rises as inflation data hits the dollar; stocks slide

    March 12 (Reuters) - Latin American currencies rose on
Tuesday as the dollar shed earlier gains after data showed U.S.
consumer prices rose at a modest pace last month, while most
stock indexes edged lower.
    The dollar pared gains again the Japanese yen and extended
losses against the euro after U.S. consumer prices data showed
that inflation remains low despite a tight labor market,
bolstering the Federal Reserve's case for keeping interest rates
on hold.
    Robust gains from Brazil's real and Colombia's peso
 on the back of higher oil prices boosted the MSCI's index
for Latin American currencies.  
    In Mexico, the peso pared gains and the stock index
 declined after news emerged that the government may delay
the construction of the Dos Bocas refinery and instead funnel
the $2.5 billion earmarked in 2019 for the project into state
oil firm Pemex.
    Pemex, which holds the largest debt of any Latin American
oil company was downgraded by rating agencies S&P and Fitch 
over the last two months, leaving questions hanging over
Mexico's sovereign credit rating.
    Chile's peso rose about half a percent on the back of
higher copper prices, while stocks on the IPSA
index were marginally lower. 
    Sao Paulo-traded stocks were marginally lower, with
businesses still influenced by expectations about pension
reform. 
    Colombia's IGBC index hit a five-month high, while
the peso rose 0.7 percent on the back of higher oil
prices. 
    Investors also watched developments related to Boeing
in the region with Gol in Brazil temporarily
suspending 737 MAX flights and Argentina's state airline
Aerolineas Argentinas           and Mexico's Aeromexico
 following suit. 
    
    Key Latin American stock indexes and currencies at 1528 GMT
     
 Stock indexes                        daily %
                             Latest    change
 MSCI Emerging Markets       1050.99     0.95
                                      
 MSCI LatAm                  2808.47     0.42
                                      
 Brazil Bovespa             97921.72    -0.11
                                      
 Mexico IPC                 41837.08    -0.09
                                      
 Chile IPSA                  5292.80    -0.12
                                      
 Argentina MerVal           34185.63     1.17
                                      
 Colombia IGBC              12579.49     0.68
                                      
                                             
 Currencies                           daily %
                                       change
                              Latest  
 Brazil real                  3.8110     0.76
                                      
 Mexico peso                 19.3410     0.28
                                      
 Chile peso                    666.9     0.47
                                      
 Colombia peso               3154.96     0.70
 Peru sol                      3.302     0.15
                                      
 Argentina peso              41.3400    -0.17
 (interbank)                          
                                      
 

 (Reporting by Agamoni Ghosh; Editing by Andrea Ricci)
Nuestros Estándares:Los principios Thomson Reuters
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