Forex - Latam Summary & Highlights November 18.


 21:20 (GMT) 18 Nov

  [Forex Highlights]

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Latam Summary & Highlights November 18. (0101-PZDH-C01)

BRAZIL: BRL lost 0.5% to 4.2113 in a day when market correction to Friday rally overcame early gains in the region. Correction was related to the lack of details in the US-China trade negotiations. Di curve followed BRL losses and widened across the board. Jan 21 was up 5bp to 4.69% and Jan 25 was up 5bp to 6.38%. 5y CDS was up by 2bp to 124. IBovespa lost 0.2% to 106,374. IPC-S to November 15 was on expectations at 0.10%m/m. Survey of economists' expectations had not material change respect to previous ones.

MEXICO: MXN lost 0.7% to close at 19.32 in a day of low volume as local market was closed for holidays. Losses were a reflection of global risk aversion on concerns about US-China trade negotiations.. Spread between 10y Mbono and 10y UST was up 4bp to 516. 1y IRS was closed for Holiday. 5y CDS was up 2bp to 93. Mexbolsa was closed for holiday.

ARGENTINA: ARS gained 0.33% to 59.48 with limited domestic trading due to the national holiday. Bonar 24 decreased 0.81% to 32.7. 5y CDS rose 80bp to 5,112. Merval was closed for holiday.

CHILE: Friday's rally extended amid calmer political and social environment. CLP challenged the negative global backdrop closing the day 0.60% stronger to 772.66. 1y IRS was 4bp down to 1.51%. 5y CDS rose 1bp to 49. IPSA lost 0.97% to 4,814. Q3 GDP came in line with expectations at 0.7% q/q, 3.3% y/y ahead of the social chaos. Q3 current account also came in line with expectations at USD -3,145 or 3.5% of GDP in 12m.

COLOMBIA: COP lost 0.5% to close at 3,442.70, reflecting negative global backdrop on concerns about US-China trade negotiations, and lower oil prices. 1 Y IRS increased 4bp to 4.42%. 5y CDS was up 1bp to 84. IGBC was closed on the day.

PERU: PEN dropped 0.3% in the day to close at 3.3743, reflecting correction for Friday rally. Concerns on lack of US-China negotiations advances triggered the correction. 1y NDF was down 22bp to 2.94%. 5y CDS was unchanged at 0 54.


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