LatAm stocks hit one-week low as oil jumps to five-month high
USO•Latin American stocks fell 1.84% to their lowest level in a week as Brent crude reached a five-month high, renewing concerns about inflation and slowing growth. Regional currencies fell 0.3%.
1. Regional markets fall
MSCI's index of Latin American stocks fell 1.84% on Thursday to its weakest level since October 15, while a regional currencies gauge dipped 0.3% against the dollar. Brent crude reached a five-month high after further Houthi attacks in Saudi Arabia raised concerns about escalation of the Middle East conflict and oil supply disruptions.
2. Country moves and events
Mexico's peso slipped 0.17% and stocks lost 0.49% after early-October inflation rose more than expected; the central bank held its benchmark rate at 6.50%. Brazil's real fell 0.26% and its equity benchmark lost 1.05% ahead of a Datafolha survey expected after market close. Peru announced economic measures to counter a potential slowdown linked to El Niño.
