Latin America Brazil

  • June 27- Most Latin American currencies dipped on Thursday as news flow from the White House dampened optimism around a China-U.S. trade deal, while Brazil's real reversed course to trade higher. Currencies of Colombia, Chile and Argentina fell between 0.07% and 0.3% against a dollar that held steady as traders moved to the sidelines ahead of this weekend's G20...

  • BRASILIA, June 25- Brazil's economy is stagnating and price pressures are evolving "favorably", but uncertainty surrounding economic and fiscal reforms is clouding the growth and inflation outlook, minutes of the central bank's rate-setting committee showed on Tuesday. Having shrunk in the first quarter of the year, Brazil's economy is on track to flatline in...

  • June 24- Mexico's peso and the Brazilian real fell on Monday, while most other Latin American currencies firmed against a weaker dollar as investors awaited the G20 summit where the U.S. and Chinese presidents are expected to meet to revive trade talks. Argentina's peso rose 0.9% as the dollar weakened on bets the Federal Reserve may cut interest rates more than...

  • BRASILIA, June 21- Brazilian markets rallied on Friday as the increasing likelihood of interest rate cuts at home and abroad, together with rising oil prices and optimism over domestic economic reforms boosted investor sentiment and sent stocks to their highest on record. "It seems obvious to say, but a combination of a dovish Fed and a central bank showing it is...

  • cenbank decision@ June 21- Mexico's peso slipped in subdued volume on Friday and Colombia's currency treaded water ahead of a decision by its central bank on interest rates amid concerns over U.S.- Iran tensions. "We remain of the view that the BCB sits on hold for 2019, at least until pension reform is closer to completion," Sacha Tihanyi, deputy head of emerging...

  • BRASILIA, June 19- Brazil's central bank held its benchmark interest rate at a record-low 6.50% on Wednesday, as expected, noting that inflation risks had evolved "favorably" amid a stalled economic recovery, but progress on economic reforms remained uncertain. Policymakers said recent economic data indicated that Brazil's economic recovery had been...

  • June 19- Latin American currencies firmed on Wednesday, with Brazil's real and Mexico's peso reversing session losses to trade higher after the Federal Reserve signaled possible rate cuts of as much as half a percentage point in 2019. Brazil's real was up 0.2%, reversing losses of up to 0.6% logged earlier in the day, while Mexico's peso rose 0.1%, recovering...

  • June 18- Latin American currencies firmed on Monday, with the Mexican peso hitting its highest in more than two weeks, boosted by the European Central Bank president's dovish comments. In Mexico, President Andres Manuel Lopez Obrador proposed holding a recall referendum on his presidency on March 21, 2021, if Congress cannot agree to a constitutional change...

  • BRASILIA, June 17- Brazilian President Jair Bolsonaro's government has named a 38- year-old banking executive as the head of development bank BNDES, replacing Joaquim Levy, who resigned on Sunday after Bolsonaro publicly criticized him. Levy, an internationally respected economist, was Brazil's finance minister during Rousseff's government and later was...

  • BRASILIA, June 17- Brazilian President Jair Bolsonaro's government has named a 38- year-old banking executive to as the new head of development bank BNDES, replacing Joaquim Levy, who resigned on Sunday after he was publicly criticized by Bolsonaro. Levy, an internationally respected economist, was Brazil's finance minister during Rousseff's government...

  • SAO PAULO, June 17- Brazilian pork and poultry processors, who have benefited from strong exports to China amid the African swine fever outbreak, are starting to feel the pinch now at home as prices soar for corn, the main ingredient in animal feed. The price spike has drawn comparisons to a corn supply squeeze in 2016, when a drought in Brazil hurt the local crop,...

  • RIO DE JANEIRO, June 14- Brazil's economy minister and lower house speaker exchanged harsh words on Friday over progress on pension reform, creating another drag on Brazilian financial assets already feeling the heat from global market weakness. Rodrigo Maia, speaker of the lower house of Congress, hit back at the criticism, saying the collective will had...

  • June 14- Latin American stocks fell nearly 2% on Friday, mirroring weakness on Wall Street, while the Brazilian real dropped as optimism around the proposed overhaul of the country's pension system faded. The real fell 1% to 3.89 per dollar after Brazil's Economy Minister Paulo Guedes expressed his disappointment with a congressional committee's report on...

  • BRASILIA, June 14- The fate of Latin America's two main currencies have contrasted so much lately that traders and analysts are questioning whether Brazil's real can keep rallying while the Mexican peso slides. President Donald Trump's threat on May 30 to slap tariffs on Mexico may have tipped the balance for money managers to reduce the Mexican exposure in...

  • June 14- An index of Latin American stocks fell more than 1% on Friday, mirroring weakness on Wall Street, while Brazil's real dropped as optimism around the proposed overhaul of the country's pension system faded and weak economic data weighed. The real fell 0.8% to 3.88 per dollar level as the government's proposals to raise the minimum retirement age and...

  • RIO DE JANEIRO, June 13- Brazil's oil regulator ANP announced on Thursday preliminary rules for a major oil auction in the pre-salt area in the Santos basin and postponed the bidding round to Nov. 6 from Oct. 28. The preliminary rules will be in public consultation until July 3, according to ANP. A public hearing is expected to take place in Rio de Janeiro on July 5.

  • The real rose about 0.4% while Sao Paulo- listed stocks also gained 0.4% to touch a near three-month high after Brazil's congressional pension reform bill coordinator Samuel Moreira said the proposed changes would generate savings of 913.4 billion reais over the next decade. "All indications suggest that pension reform remains on track and may leave the...

  • Mourao met with Chinese leader Xi Jingping in China last month as part of efforts to maintain warm relations with Brazil's top trading partner. While campaigning last year, President Jair Bolsonaro had warned that China was trying to "buy Brazil," but he has since taken a more pragmatic approach. Despite a deal with Washington for the United States to safeguard...

  • BRASILIA, June 13- An overhaul of Brazil's social security system will generate savings of 913.4 billion reais over the next decade with changes to a draft bill proposed in a long-awaited congressional report presented on Thursday. The government's original bill, a cornerstone of President Jair Bolsonaro's economic plan to heal the public finances and...

  • SAO PAULO, June 13- Brazil's Agriculture Ministry said on Thursday the country may resume beef exports to China after an embargo was lifted, sending shares of Brazilian meatpackers like Marfrig Global Foods and Minerva SA soaring. Brazilian beef exports to China had been suspended since June 3 after an atypical case of mad cow disease was reported in the state...