Retreating dollar lifts currencies, Brazil's real cheers GDP

(Reuters will not be publishing its EMEA-focused emerging market reports on Thursday and Friday on account of UK holidays. Coverage will be resumed on Monday, June 6.)

* Mexico's Pemex to launch $2 bln debt swap Thursday -source

* Brazil GDP growth picks up as pandemic effects recede

* Chile interest rate seen rising to 9% in June- cenbank poll

* Paris Club aims for deal with Argentina "in coming weeks"

By Susan Mathew and Bansari Mayur Kamdar

June 2 (Reuters) - Most emerging market currencies firmed on Thursday as the dollar weakened, with the Chilean peso hitting over one-month highs, while Brazil's real got a boost from revisions in growth forecast for Latin America's largest economy.

The greenback slid 0.7%, retreating from recent gains as firmer risk sentiment prompted investors to reach for higher-yielding currencies. China's yuan CNY= firmed 0.4%, South Africa's rand ZAR= rose 0.7%, while Russia's offshore rouble RUB= firmed to 61.65 per dollar.

"You're seeing the market reset its Federal Reserve rate hiking expectations after softness in U.S. economic data," said Edward Moya, senior market analyst at OANDA.

In Latam, Brazil's real BRBY BRL= firmed 0.5%, looking to make back some of Wednesday's 1.7% slide.

But volatility in Brazil's real is set to increase near-term as October's presidential vote becomes the key focus, a Reuters poll of Latam currencies showed.

Data showed Brazil's economic growth accelerated slightly less than expected, at 1% in the first quarter from the fourth quarter, but it is seen gaining steam in the second half as an improving labor market boosts household spending.

"The data today was still bad news for the Brazilian President," said Moya, noting that it could hurt Jair Bolsonaro's re-election chances.

"Across the globe, we're seeing soft economic data because inflation has not eased up, It's persisted a lot longer at this elevated state that is really taking a big hit on emerging markets."

Copper producer Chile's peso CLP= jumped 1.3%. Prices of the red metal rose as the lifting of COVID-19 restrictions in top metals consumer China buoyed hopes of demand recovery.

Chile is expected to hike its benchmark interest rate this month to 9% from 8.25%, a central bank poll showed.

Central bankers around the world are walking a tight rope as they try to manage surging inflation with tighter monetary policy while keeping economies from tipping into recession.

Hungary's central bank raised its one-week deposit rate by 30 basis points to 6.75% as expected on Thursday.

Developing world currencies will struggle to hold on to recent gains towards year-end as U.S. Federal Reserve interest rate hikes and inflation concerns keep the dollar in the forefront, according to a Reuters poll.

Among stocks, Brazil's Bovespa .BVSP rallied almost 1% to lead gains in Latin America, tracking the jump in stocks globally.

In Mexico, state oil company Petroleos Mexicanos (Pemex) plans to launch a $2 billion issue of global unsecured notes Thursday, due 2029, according to a source, using proceeds to pay suppliers and contractors.

Pemex has $109 billion in financial debt, according to its latest quarterly results. Default worries about Pemex have hit Mexico's sovereign credit rating in the past.

The Paris Club of creditor countries said it aimed to wrap up "in the coming weeks" a renegotiation of $2 billion in debt that Argentina owes.

Key Latin American stock indexes and currencies at 1913 GMT:

Stock indexes


Daily % change

MSCI Emerging


-0.41 Markets




0.78 .MILA00000PUS

Brazil Bovespa




Mexico IPC




Chile IPSA






0.251 MerVal


Colombia COLCAP






Daily % change Brazil real




Mexico peso




Chile peso


1.33 CLP=CL

Colombia peso


0.74 COP=

Peru sol


0.88 PEN=PE

Argentina peso


-0.11 (interbank)


Argentina peso


1.48 (parallel)


Reporting by Susan Mathew and Bansari Mayur Kamdar in Bengaluru; Editing by Alistair Bell and Richard Chang

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。


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。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。