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Most currencies of Latin America
Slippage against the US dollar strong on Tuesday amid
content
expectations of continued tightening of Federal policy
Reserves, with Chilean peso falling as copper falls
price.
Dollar hits two-month high after hawking
Opinions from Fed officials have led investors to take positions for
the possibility of further interest rate hikes.
The MSCI Index of Latam Coins Drops
0.3%
Chilean peso fell 0.8% against greenback
copper prices fell to six-month low after speculators
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increased bearish position due to recession and recession worries
demand in top metal consumer China, hurting the currency of
largest exporter of red metal in the world.
Among others, the Mexican peso fell 0.5%.
Investor sentiment towards currencies has been affected
recently after the government took over part of the railway
owned by Grupo Mexico, while analysts have also
warning of a hit to the peso, the best performing Latin American currency
currency in 2023, from a possible recession in the United States later this year.
“We have sounded the alarm about the crowded location
in MXN because the currency has been favored by investors because
for a while, connect this with the possibility of a liquidity squeeze
may happen after the debt ceiling is resolved
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deadlock,” Olga Yangol, head of EM research and strategy at
Agricultural Credit.
Representative of President Joe Biden and Congress
Republicans concluded another round of debt ceiling negotiations on Tuesday
There is no sign of progress as the loan deadline increases
The limit or risk of default is marked closer.
Furthermore, a Reuters poll showed that country’s title
Inflation may slow down in the first half of May to the lowest level
for 19 months, supporting the view of a prolonged decline in
consumer prices and that the central bank will keep
preparedness rate holds.
Peruvian sol up 0.2%, Brazilian real
fell 0.1% and the Colombian peso gained 1.4%.
Meanwhile, Argentina’s economic activity grew 1.3% a year.
annual basis in March, the country’s official statistical agency
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speak.
Latin American stocks fell 0.4%, with
Mexican stocks were hit the hardest.
However, Brazilian stocks are expected to continue to drift
higher this year in earnings for mixed companies, with food exporters
feel the pain from slower global growth and banks
advantage of high interest rates, a Reuters poll showed.
Elsewhere, Hungary’s central bank made a one-day critical cut
deposit interest rate from 100 basis points to 17%, in line with
expect and mark possible “gradual” cuts,
began the first such policy easing cycle in
Europe.
Major Latin American currency and stock indices at 1940 GMT:
Latest daily % stock index
change
MSCI Emerging Markets 977.49 -0.59
MSCI LatAm 2271.38 -0.39
Brazil Bovespa 110046.28 -0.15
Mexico IPC 53078.06 -0.73
Chile IPSA 5703.01 0.19
Argentina MerVal 339576.69 0.176
Colombia COLCAP 1124.22 0.03
Daily latest currency %
change
Real Brazil 4,9730 -0.06
Mexican Peso 17.9694 -0.50
Chilean Peso 802.6 -0.83
Colombian Peso 4462.5 1.42
Peru sol 3,675 0.17
Argentine Peso (interbank) 234,9000 -0.23
Argentine Peso (Parallel) 487 0.62
(Reported by Amruta Khandekar, Siddarth S and Ankika Biswas in
Bangalore; Editing by Paul Simao and Alistair Bell)
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