ILF•| Latin American market prices from Reuters | ||
| Equities | Latest | Daily % change |
| MSCI Emerging Markets .MSCIEF | 1755.79 | 1.71 |
| MSCI LatAm .MILA00000PUS | 3153.52 | -0.22 |
| Brazil Bovespa .BVSP | - | - |
| Mexico IPC .MXX | 64747.55 | -0.18 |
| Chile MSCI index .MICL00000PUS | 1698.21 | -0.06 |
| Argentina Merval .MERV | 3041944.61 | -0.235 |
| Colombia COLCAP .COLCAP | 2555.11 | 0.41 |
| Currencies | Latest |
| Daily % change |
| Brazil real BRL= | - | - |
| Mexico peso MXN= | 16.9082 | -0.17 |
| Chile peso CLP= | 932.45 | 0.13 |
| Colombia peso COP= | 3111.5 | 0.42 |
| Peru sol PEN= | 3.359 | -0.17 |
| Argentina peso (interbank) ARS=RASL | 1500 | 0.57 |
| Argentina peso (parallel) ARSB= | 1520 | 1.64 |
In Brazil, political developments remained in the spotlight.
Brazil's opposition is set to take to the streets on Monday as right-wing presidential hopeful Senator Flavio Bolsonaro seeks to capitalize on a crisis engulfing the country's Supreme Court to bolster his campaign against leftist President Luiz Inacio Lula da Silva ahead of next month's election.
Recent polls showed Lula's lead over Bolsonaro narrowing, with investors widely considering the challenger to be a more market-friendly candidate amid a deteriorating fiscal situation under the current government.
Chile, the world's largest copper producer, exported $4.63 billion worth of the metal in August, down 3.2% from the same month a year earlier, the country's central bank said on Monday.
MSCI's index tracking Chilean stocks .MICL00000PUS was slightly lower while the Chilean peso CLP= strengthened 0.1%.
Chile's central bank is expected on Tuesday to leave interest rates unchanged.
Mexico's equities benchmark .MXX and the Mexican peso MXN= both fell 0.2%. Mexico is the region's second-largest economy.
Stocks in most Latin American economies fell on Monday as higher oil prices kept risk sentiment in check while investors also mulled the rising odds of an interest rate hike by the U.S. Federal Reserve this month.
An index tracking Latin American stocks .MILA00000PUS edged down 0.2%. Markets in Brazil, the region's largest economy, were closed for the country's Independence Day holiday, keeping volumes thin overall.
The U.S. dollar was slightly weaker as investors turned their attention to the release later this week of key U.S. consumer inflation data, which could provide clues on the central bank's rate path. The broader Latin American currencies gauge .MILA00000CUS was largely unchanged.
Crude prices, an important driver for emerging market assets, rose more than 1% to above $97 a barrel, after tit-for-tat strikes between the U.S. and Iran on vessels in the Strait of Hormuz and other areas. O/R
Elevated oil prices continue to stoke inflation pressures and cloud the global economic outlook while forcing central banks towards a tighter interest rate environment.
"Concern about inflationary risks is only exacerbated by the latest moves in energy markets. The U.S. and Iran continue to exchange strikes as a resolution to the crisis in the Middle East remains elusive," said Dan Coatsworth, head of markets at AJ Bell.
Against this backdrop, traders see an increased probability that the Fed will raise rates at its September 15-16 meeting after a strong U.S. jobs report last week.
Markets see a 58% probability of a rate hike this month, up from 44% a month ago, according to CME Group's FedWatch Tool.
