Latam currencies advance as weak US jobs data weighs on dollar, stocks mixed

Among currencies, the Mexican peso MXN= traded 0.5% higher, while its stocks .MXX gained 0.6%, led by a 1.6% advance in Grupo Mexico GMEXICOB.MX, tracking higher copper prices.

Data showed annual inflation in Mexico slowed in July to its lowest level in more than six years, a day after the central bank kept rates unchanged and pushed back its timeline for inflation to return to target levels.

"Softer food prices, weak domestic demand, restrictive financial conditions and the lagged effects of the MXN's appreciation earlier this year continue to support lower headline inflation," said Andres Abadia, chief LatAm economist at Pantheon Macroeconomics.

In Chile, annual inflation also eased in July, while copper export revenue jumped 22.7% year-on-year. The equities benchmark .SPIPSA declined 0.2% after hitting an over three-month high in the previous session, and the peso CLP= gained 0.4%.