LatAm Opens After Brazil Stocks Rise 0.5% | Pre-Open, Oct 19
Brazil's Ibovespa rose 0.54% on Friday while the S&P 500 fell 1.09%. Brent near US$106 and a fresh Asian tech slide frame the Latin American open today. The post LatAm Opens After Brazil Stocks Rise 0.5% | Pre-Open, Oct 19 appeared first on The Rio Times .
Latin American stock markets opened on a cautious note on Monday, October 19, as investors grappled with a global tech sell-off and a weaker dollar. Asian markets continued their downward trend due to concerns over the artificial-intelligence sector, while oil prices hovered around $106 a barrel. For Brazil, high interest rates and a declining dollar may offer support, but the region remains cautious due to oil-driven inflation and tech volatility.
Mexico and Chile also faced similar challenges, with the peso and Chile's currency experiencing similar fluctuations. Argentina and Colombia, on the other hand, would closely monitor commodity prices and recent data.
The weaker dollar appeared to be a lifeline for emerging markets, supporting currencies like the real, Mexican peso, and Chilean peso. However, the Nasdaq's 2.1% decline and further slides in Asian tech highlighted the fragility of risk appetite. Investors will be watching Wall Street's stability in the New York session closely, as a further drop could drag Latin American equities down despite the currency tailwind.
Brazil's Ibovespa saw a 0.54% increase, but with negative breadth, only 1 out of 5 names were higher. Mexico's IPC led the gains, while Chile and Argentina trailed. The Mexican peso weakened by 0.43% to 18.49 per US$, while Chile's peso fell by 0.37% to 984.83. Brazil's central bank would release its weekly Focus survey and IGP-10 inflation data at 8:25 BRT and 8:00 BRT, respectively. Mexico's IPC continued to rise despite a weaker peso, potentially offering a counterbalance to the tech sell-off.
Argentina reported a primary budget surplus for September at ARS 1,427.6 billion (approximately US$940 million), with a budget balance after interest of ARS 977 billion. The September balance of trade was awaited at 16:00 BRT, with expectations of 2,500 (US$ million) and a previous reading of 2,187. Colombia's retail sales rose 7.3% in August, slightly below analysts' forecasts, while industrial production decreased 3.7% (DANE).
Colombia's economic activity index for August is due at 12:00 BRT, with consensus at a 1% year-on-year growth. Ecuador's balance of trade for August is slated for release at 11:00 BRT, with expectations of 300 (US$ million).
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
