Latin American stocks rose 1% Friday and were on track for their biggest weekly gain since November 2020, led by a 1.7% rise in Brazil’s Bovespa. The Brazilian real gained 0.7% and was set for its strongest week since October 2022.
MSCI’s Latin American stock index rose 1% and was on track for its biggest weekly jump since November 2020. A gauge of regional currencies dipped 0.2% against the dollar.
Brazil’s Bovespa gained 1.7% and was set for its steepest weekly rise since April 2020. A Datafolha poll showed Senator Flávio Bolsonaro leading President Luiz Inácio Lula da Silva in the presidential race, with 49% to 45% of vote intention in a potential second round; the margin of error was 2 percentage points. Brazil’s September inflation accelerated above the central bank’s target range.
Mexico’s peso fell 1.2% for a second straight day after central bank minutes showed three of five board members said future rate cuts could be considered if the inflation outlook improves. Colombia’s peso rose 0.8%, while Chile’s peso was little changed and Peru’s sol dipped 0.4%.
