July 9, 2019 / 1:56 PM / 3 months ago

EMERGING MARKETS-Latam FX subdued as focus turns to Fed

    July 9 (Reuters) - Most Latin American currencies made small
moves against the dollar on Tuesday as investors awaited clues
on U.S. monetary policy from the U.S. Federal Reserve officials.
    With financial markets closed in Brazil and Argentina for a
local holidays, trading was largely muted ahead of Fed chief
Jerome Powell's testimony to the Congress and release of minutes
on Wednesday from the U.S. central bank's last policy meeting.
    Emerging markets have enjoyed capital inflows this year on
signs major central banks would embrace a looser monetary policy
as a result of trade disputes and growth concerns.
    However, strong U.S. jobs data on Friday all but ended 
expectations of a bold interest rate cut from the Fed at its
meeting this month, leaving investors in search of hints on
where rates are headed.
    The Mexican peso strengthened slightly after data
showed consumer prices rose 3.95% in the year through June,
in-line with estimates. Mexico's central bank targets inflation
of 3%.
    Mexican President Andres Manuel Lopez Obrador said a U.S.
countervailing duty investigation of Mexican fabricated
structural steel does not affect a new North American trade pact
and had no relation to earlier tariff threats by U.S. President
Donald Trump.
    The Chilean peso fell about 0.3% as prices of copper,
the country's top export, fell to a three-week low.. The
Colombian peso was little changed.
    In a potential boost to Brazil's markets on Wednesday,
surveys showed public and political support for pension reform
in Brazil had never been higher as the lower house of Congress
prepares to vote on the government's economic reform bill later
in the day.

    Latin American stock indexes and currencies at 1317 GMT
    
 Stock indexes                       daily %
                            Latest    change
 MSCI Emerging Markets      1042.45    -0.36
                                     
 MSCI LatAm                       -        -
                                     
 Brazil Bovespa                   -        -
                                     
 Mexico IPC                       -        -
                                     
 Chile IPSA                       -        -
                                     
 Argentina MerVal                 -        -
                                     
 Colombia IGBC                    -        -
                                     
                                            
 Currencies                          daily %
                                      change
                             Latest  
 Brazil real                      -        -
                                     
 Mexico peso                18.8949     0.08
                                     
 Chile peso                  689.62    -0.28
                                     
 Colombia peso               3216.8     0.03
                                     
 Peru sol                         -        -
                                     
 Argentina peso                   -        -
 (interbank)                         
                                     
 

 (Reporting by Sruthi Shankar in Bengaluru)
  
Nuestros Estándares:Los principios Thomson Reuters
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