Forex - Latam Summary & Highlights April 16.


 22:29 (GMT) 16 Apr

  [Forex Highlights]

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Latam Summary & Highlights April 16. (0101-KNNB-C01)

BRAZIL: BRL lost 0.84% to 3.9044 after the vote on the pension reform was postponed. Di curve steepened. Jan 20 Di remained unchanged at 6.46% while Jan 25 Di rose 7bpt o 8.80%. 5y CDS was 1bp down to 168. Bovespa gained 1.34% to 94,333. IPC-S surprised on the upside at 0.79% as food and gasoline prices keep pressuring consumer prices. PPI manufacturing increased to 0.12% m/m, while easing in y/y terms at 7.79%. The government announced a financial package that aims to avoid another Truckers strike.

MEXICO: MXN lost 0.09% to 18.872 with broadly stronger US dollar. Spread between 10y Mbono and 10y UST was 1bp up to 544. 1y IRS was 1bp up to 8.31%. 5y CDS dropped 1bp to 112. Mexbolsa gained 0.91% to 45,033. International reserves to April 12 remained fairly stable at USD 176,465m.

ARGENTINA: Optimism on increased USD supply from the Treasury faded and ARS corrected 1.44% weaker to close the day at 42.2323. The monetary policy rate was 6bp down to 66.789%. Bonar 24 decreased 0.40% to 94.0. 5y CDS increased 8bp to 893 reflecting the negative surprise of March inflation, which came well above expectations at 4.7% m/m, 54.1% y/y. Core prices also accelerated significantly at 4.6% m/m, 55.5% y/y. Right after the publication of March inflation, the BCRA announced a set of measures to target stronger ARS, supposedly to step up disinflationary efforts.

CHILE: CLP defied the negative regional trend, gaining 0.08% to 662.71. 1y IRS was stable at 3.09%. 5y CDS was 1bp down to 37. IPSA gained 0.29% to 5,248.

COLOMBIA: COP lost 0.75% to 3163.65 following a DXY recovery. 1y IRS was 1bp down to 4.35%. 5y CDS dropped 2bp to 963. IGBC lost 0.19% to 12,893.

PERU: PEN followed the region losing 0.07% to 3.2972. 1y NDF was up 8bp to 4.12%. 5y CDS was stable at 54.


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