Latin American Currencies and Equity Markets Run Mixed Amid Global Dollar Weakness By Reuters

Written by Froilan Romero

SANTIAGO (Reuters) – Latin American currencies and stock markets were mixed on Monday, amid a global decline in the dollar, while stocks of energy companies rose due to the rise in dollar prices, after a sudden cut in crude oil production set by the OPEC + alliance. .

The dollar pared early gains against its major peers as investors focused on divergence in central banks’ monetary policies as the impact of oil production cuts complicated inflation expectations.

* The US currency fell by 0.7% against a basket of six major currencies that make it up.

– Oil prices rose on Monday, posting their biggest one-day rise in nearly a year, after OPEC+’s sudden announcement of further production cuts shook the markets.

* It was trading at 18.0590 per dollar, down 0.28%, starting from a week shortened by the Easter holiday and on a day when investors were interested in important economic data.

* “We expect the Mexican peso to trade in the week between 17.85 and 18.35 amid lower volumes for the holiday period,” Banorte (BMV:) analysts said in a note sent to their clients.

* The main stock index, which includes the 35 most liquid companies in the Mexican market, fell 0.32% to 53,729.17 units.

* The Brazilian real rose 0.12% to 5.0589 units against the dollar, while the B3 stock market index in Sao Paulo fell 0.97% to 100888.03 points.

* Brazilian President Luiz Inacio Lula da Silva said on Monday that he believes the country’s economy will grow “more than the pessimists think” and that he disagrees with forecasts of a slow expansion of gross domestic product.

* Meanwhile, the peso in Argentina fell 0.64% to 210.35 per dollar in a decline regulated by the central bank.

* The stock index increased by 1.89% to 250,339.41 units, encouraged by the rise recorded in energy stocks due to the rise in global oil prices after the sudden decision of OPEC +.

– The Chilean peso fell 0.29% to 796.80 / 797.10 per dollar. Meanwhile, the main index of the Santiago Stock Exchange, IPSA, posted a margin of 0.04%, to 5,322.70 units.

* The Chilean economy fell 0.5% year-on-year in February amid slumping trade and other commodities, the central bank said Monday. The monthly index of economic activity (Imacec), which accounts for nearly 90% of the South American country’s GDP, decreased by 0.3% in seasonally adjusted terms compared to January.

* The Colombian peso opened, up 0.52%, to 4,630 units against the dollar. On the stock market, the MSCI COLCAP benchmark rose 0.78%, to 1,166.65 points.

* The Peruvian currency, the sol, depreciated a slight 0.05% to 3,764/3,766 units per dollar. Meanwhile, the Lima Stock Index improved by 0.67%, to 570.44 points.

(Reporting by Froilan Romero. Additional reporting by Luis Jaime Acosta in Bogota, Hernan Nessi, Jorge Otaola and Walter Bianchi in Buenos Aires; Editing by Manuel Farias)