Latam markets lead broader EM recovery; Brazil's real jumps after inflation data
Updated at 1530 GMT
Brazil inflation rises in July
Mexican peso rises after rate cut, Peruvian sol falls
Argentina's Merval leads weekly gains in Latam
Ukraine begins formal approval process for bond restructuring
By Lisa Pauline Mattackal
Aug 9 (Reuters) -Latin American stocks and currencies climbed on Friday, continuing a strong day for emerging markets as easing worries about U.S. economic growth helped risk assets regain some ground, while Brazil's real led regional currency gains after higher-than-expected inflation figures.
MSCI's Latin American stocks index .MILA00000PUS leapt 2.2% on the day, while the regional currency index .MILA00000CUS gained 1.6%.
The indexes were heading for 5% and 3.2% gains for the week, respectively. The share index is on track for its best week since October 2023, and the currency index for its best since March 2023, erasing losses from a steep selloff earlier in the week.
Both have outperformed the broader emerging markets stocks .MSCIEF and currency indexes .MIEM00000CUS, both also on course for weekly gains.
Brazil's real jumped 0.8% to a three-week high against the dollar =USD, leading regional currency gains after data showed consumer prices rose 0.38% in July, accelerating from 0.21% in June and exceeding economists' forecasts.
Brazil's central bank minutes released earlier in the week showed policymakers are prepared to hike interest rates again if inflation worsens.
Mexico's peso MXN= rose 0.2% against the dollar after its central bank cut interest rates on Thursday but signaled it expected higher inflation.
"The balance of risks did not change. We continue to forecast three additional 25bp rate cuts until the end of 2024," economists at Goldman Sachs wrote in a note.
Mexico's peso was among the worst-hit currencies during a turbulent week that followed a global selloff on Monday in response to some poor U.S. economic data that deepened worries about slowing global growth and sparked a massive unwinding of yen-funded carry trades.
U.S. jobless claims data on Thursday helped risk assets recover, while stronger China inflation data also helped soothe worries about deflation in the world's second largest economy.
However, Peru's sol PEN=PE lagged regional peers, losing 0.4% after an unexpected interest rate cut on Thursday.
Meanwhile, the Russian rouble weakened over 2.3% against the dollar RUB=, according to LSEG data, touching a near one-month low.
"Escalating fighting between Russian and Ukrainian troops in Russia’s Kursk region are most likely the source of selling pressure on the rouble," said Piotr Matys, senior currency analyst at InTouch Capital Markets.
Elsewhere, Ukraine began the formal creditor approval process of its offer to restructure its roughly $20 billion of international bonds.
The Israeli shekel ILS= firmed against the dollar to its strongest in over a week, with the dollar losing 1.4% against the Israeli currency.
Emerging market equities have seen inflows of $2.3 billion over the past 10 weeks, according to data from Bank of America Global Research. However, EM debt has seen outflows for the past two weeks.
Key Latin American stock indexes and currencies
MSCI Emerging Markets .MSCIEF | 1063.31 | 1.62 |
MSCI LatAm .MILA00000PUS | 2238.75 | 2.24 |
Brazil Bovespa .BVSP | 129695.43 | 0.8 |
Mexico IPC .MXX | 52891.87 | 0.03 |
Chile IPSA .SPIPSA | 6330.85 | 0.59 |
Argentina Merval .MERV | 1557735.67 | 1.788 |
Colombia COLCAP .COLCAP | 1309.72 | 0.81 |
Currencies | Latest | Daily % change |
Brazil real BRL= | 5.5064 | 0.77 |
Mexico peso MXN= | 18.824 | 0.19 |
Chile peso CLP= | 931.81 | 0.36 |
Colombia peso COP= | 4066.88 | -0.2 |
Peru sol PEN= | 3.722 | -0.35 |
Argentina peso (interbank) ARS=RASL | 936.5 | 0 |
Argentina peso (parallel) ARSB= | 1345 | 2.230483271 |
Mexican peso slumps as yen jumps https://tmsnrt.rs/4deSzi1
Reporting by Lisa Mattackal in Bengaluru; Editing by Tomasz Janowski
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
