Setembro 16, 2021

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MERCADOS EMERGENTES – Alta real do Brasil após 8 dias de perdas, Latham FX desativado

    * Real down nearly 7% over past 8 sessions
    * Chilean economic growth seen surging
    * Oil weighs down Mexican, Colombian FX

    By Ambar Warrick
    July 12 (Reuters) - Brazil's real rose slightly on Monday,
taking some support from expectations of an economic recovery
this year, while most other Latin American currencies moved
little as a surge in global cases of the Delta COVID-19 variant
prompted caution. 
     The real rose 0.2% after tumbling nearly 7% over the
past eight sessions, in the wake of serious graft allegations
related to vaccine procurement against the government. 
    A recent poll showed a majority of Brazilians support
President Jair Bolsonaro's impeachment, amid growing discontent
over his handling of the COVID-19 pandemic, and allegations of
corruption.
    The real is expected to benefit from a strong economic
recovery in Brazil this year. But a laggard job market and
spiking inflation could hurt its prospects, even with the
central bank hiking lending rates sharply. 
    "We expect the ongoing recovery to strengthen into the
second half of the year as the vaccination rollout continues to
advance. This will benefit the sectors hit hardest by the
pandemic – especially the services sector," analysts at TS
Lombard wrote in a note.
    "Still, we believe that the job market is likely to lag the
overall recovery." 
    Rising iron ore prices, on expectations of more liquidity in
China, also helped the real on Monday.
    
    Broader Latin American currencies were largely unchanged,
with MSCI's index rising 0.2%.
    Chile's peso rose 0.6% as a central bank survey of
analysts showed the economy will expand by 16.5% in June and by
11.9% in the third quarter this year.
    But despite the expectations of a strong rebound, concerns
over the drafting of the country's new constitution have held
back Chilean assets in recent months.
    The government also raised its inflation forecast for 2021,
which has been a common theme in markets as more economies
reopen with a bang from COVID restrictions.
    Mexico's peso and Colombia's peso fell
slightly, tracking declines in oil prices as markets feared a
hit to demand from the Delta variant.
    Latin American stocks rose in early trade, but kept to a
tight range established over the past few sessions, as investors
awaited more solid cues on global economic growth. 
    In Cuba,  thousands of civilians joined street protests from
Havana to Santiago on Sunday in the biggest anti-government
demonstrations on the Communist-run island in decades.

    Mexican President Andres Manuel Lopez Obrador called for an
end to the U.S.-Cuba economic embargo to help its people, in
light of the protests.
    Key Latin American stock indexes and currencies:
    
                              Latest       Daily % change
 MSCI Emerging Markets         1324.75                    0.5
                                        
 MSCI LatAm                    2531.39                   0.78
                                        
 Brazil Bovespa              126582.52                   0.92
                                        
 Mexico IPC                   49525.02                  -0.49
                                        
 Chile IPSA                    4270.24                   0.53
                                        
 Argentina MerVal                 0.00                      0
                                        
 Colombia COLCAP               1292.44                  -0.04 Currencies             Latest       Daily % change
 Brazil real                    5.2486                   0.18
                                        
 Mexico peso                   19.8976                  -0.24
                                        
 Chile peso                     744.08                   0.58
                                        
 Colombia peso                 3829.79                  -0.07
 Peru sol                       3.9639                  -0.13
                                        
 Argentina peso                96.0900                  -0.10
 (interbank)                            
                                        
 
    

    
 (Reporting by Ambar Warrick; Editing by Andrea Ricci)