April 21, 2017 / 9:24 PM / 3 months ago

EMERGING MARKETS-Mexican peso slips in worst week since January

4 Min Read

 (Updates prices)
    By Mitra Taj and Miguel Gutierrez
    MEXICO CITY, April 21 (Reuters) - Mexico's peso eased on
Friday amid global jitters over the French election, posting its
worst weekly loss since the start of the year.
    Markets braced for the first round of the French
presidential election on Sunday ahead of a runoff between the
top two candidates on May 7. 
    In Mexico, Latin America's No.2 economy, the stock index 
 also weakened ahead of first-quarter earnings that many
Mexican companies will report next week.
    The Mexican peso dipped about 0.2 percent
to 18.81 per dollar, wracking up an about 1.6 percent loss for
the week as the currency pulled back from its strongest level
since the November election win of U.S. President Donald Trump. 
    Since slumping to a record low in January before his
inauguration, the peso has been the world's best-performing
major currency as fears moderated that Trump's policies would
hurt Mexico's trade and investment in its factories. 
    Earlier this week, the currency gave up ground to the dollar
following aggressive comments by Trump, who again threatened to
ditch the North American Free Trade Agreement (NAFTA) if he
could not make "very big changes" to it.
    Markets in Brazil were closed on Friday for a holiday.
    The Chilean and Colombian pesos also fell as the dollar
strengthened globally on Friday as traders squared up positions
ahead of the weekend.
    Key Latin American stock indexes and currencies at 2050 GMT:
    
    
 Stock indexes                                     daily   YTD %
                                                       %  change
                                        Latest    change  
 MSCI Emerging Markets                    961.78    0.35   11.54
 MSCI LatAm                              2602.62   -0.26   11.19
 Brazil Bovespa                         63760.62    0.56    5.87
 Mexico IPC                             48967.83   -0.36    7.28
 Chile IPSA                              4809.47    0.09   15.85
 Chile IGPA                             24160.77    0.11   16.53
 Argentina MerVal                       20768.98    0.48   22.76
 Colombia IGBC                          10101.37    -0.2   -0.26
 Venezuela IBC                          49287.67    3.34   55.46
                                                                
 Currencies                                        daily   YTD %
                                                       %  change
                                                  change  
                                          Latest          
 Brazil real                              3.1475  Closed    3.23
 Mexico peso                               18.81   -0.14   10.24
 Chile peso                                652.2   -0.41    2.84
 Colombia peso                              2874   -0.84    4.44
 Peru sol                                  3.242    0.03    5.31
 Argentina peso (interbank)              15.4500   -0.39    2.75
                                                          
 Argentina peso (parallel)                 16.04    0.31    4.86
                                                          
 
 (Editing by Lisa Shumaker and Cynthia Oserman)
  

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