Wednesday, July 6, 2022
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Emerging Markets

EMERGING MARKETS-Mexican peso extends gains; Peru’s sol plumbs new lows

MtR by MtR
June 8, 2021
in Emerging Markets
0


By Susan Mathew June 8 (Reuters) – Mexico’s peso extended gains on Tuesday as sweeping changes to market-friendly policies seemed less likely after midterm elections, while Chile’s currency fell ahead of a central bank decision on interest rates later in the day. The Mexican peso extended gains to a third straight session as the make-up of the lower house of the Congress following Sunday’s elections is seen as less conducive to President Andres Manuel Lopez Obrador’s reform plans. Markets were especially worried about constitutional changes impacting the energy sector and independent entities. “The main source of surprise in Sunday’s election was (the ruling party) MORENA’s low vote count, relative to pre-election polls… This, we think, should be interpreted as a hidden rejection vote towards the ruling party by Mexican voters,” Credit Suisse strategists wrote in a note. The currency is up about 0.7% for the year thanks to a rally since Friday which has seen it gain close to 2% so far. Peru’s sol fell another 1%, after plunging 2.5% on Monday, to new lows after a presidential election on Sunday. Socialist Pedro Castillo held a slight lead over right-wing rival Keiko Fujimori with 95% of the votes counted. Fujimori alleged “irregularities” in the counting on Monday. The currency has lost almost 8% since Castillo’s surprise win in the first round vote in April. Ratings agency S&P on Tuesday said it’s too early to assess the fallout from election uncertainty. Castillo on Monday sought to assuage markets, saying he would respect the central bank’s autonomy should he be elected. A spilt vote could be a silver lining as it would make it difficult for Castillo to pass dramatic reforms, analysts say. “As per article 116 of the Peruvian constitution, the next president of Peru takes office on 28 July, 2021. Therefore, we would expect that any legal challenges would need to be addressed and resolved before that date,” Credit Suisse said. Chile’s peso dipped 0.1% with the central bank decision due at 0700 GMT. Data on Tuesday showed Chile’s consumer prices rose 0.3% in May, while rolling 12-month inflation hit 3.6%, within the central bank’s target range of 2%-4%. Brazil’s real continued to pull back after hitting six-month highs last week. Data on Tuesday showed retail sales rose in April at their fastest rate in more than 20 years, kicking off Latin America’s largest economy’s second quarter on a strong footing. Consumer stocks, Via Varejo, Lojas Americanas and Magazine Luiza were among the top gainers on Sao Paulo’s Bovespa stocks index after the data. Key Latin American stock indexes and currencies: Stock indexes Latest Daily % change MSCI Emerging Markets 1377.03 -0.26 MSCI LatAm 2668.57 -0.63 Brazil Bovespa 130026.89 -0.57 Mexico IPC 50874.74 -1.08 Chile IPSA 4158.49 0.66 Argentina MerVal 0.00 0 Colombia COLCAP 1244.72 -0.06 Currencies Latest Daily % change Brazil real 5.0560 -0.37 Mexico peso 19.7673 0.16 Chile peso 717.4 -0.21 Colombia peso 3604.2 0.03 Peru sol 3.9797 -1.08 Argentina peso 95.0100 -0.03 (interbank) (Reporting by Susan Mathew in Bengaluru; Editing by Alistair Bell)



Source link

Related articles

Analysis: Scalded by Russia, investment funds tread carefully in China

July 6, 2022

Short Interest in Morgan Stanley Emerging Markets Debt Fund, Inc. (NYSE:MSD) Expands By 18.2%

July 6, 2022

Related Posts

Analysis: Scalded by Russia, investment funds tread carefully in China

by MtR
July 6, 2022
0

China too big to ignore for many as promises economic recoveryBut some starting to trim exposureCite South China Sea, Taiwan...

Short Interest in Morgan Stanley Emerging Markets Debt Fund, Inc. (NYSE:MSD) Expands By 18.2%

by MtR
July 6, 2022
0

Morgan Stanley Emerging Markets Debt Fund, Inc. (NYSE:MSD - Get Rating) was the target of a large growth in short...

Va. Plan Hires Emerging Markets Equity Manager – FIN News

by MtR
July 5, 2022
0

Va. Plan Hires Emerging Markets Equity Manager  FIN News Source link

Asset allocation highlights – ‘When the facts change…’

by MtR
July 5, 2022
0

For central banks, the facts have now changed: inflation has been persistent enough for them to drop the ‘transitory’ moniker...

MENAP and Turkey-based startups raise $5.1bln in H1 2022

by MtR
July 5, 2022
0

VC funding in MENA, Africa, Pakistan and Turkey reached a record high in H12022, with startups raising nearly 70 percent...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
Fed tapering and emerging markets

Fed tapering and emerging markets

June 7, 2021
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Paytm Money moves direct mutual fund investors to BSE star exchange

July 6, 2022

ETF investors reduce credit risk as recession fears spike

July 6, 2022

Bonds and ETFs find favour on NZX in June

July 6, 2022

RBA rate lift causes shift in commodity prices

July 6, 2022

Recent News

Paytm Money moves direct mutual fund investors to BSE star exchange

July 6, 2022

ETF investors reduce credit risk as recession fears spike

July 6, 2022

Bonds and ETFs find favour on NZX in June

July 6, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter