LatAm Opens After Brazil Stocks Slip 0.2%, Dollar Firms | Pre-Open, Oct 20
Latin America faces a firmer dollar and firm oil at Tuesday's open. Brazil stocks slipped 0.2% on Monday as US yields held near 5.1%. The post LatAm Opens After Brazil Stocks Slip 0.2%, Dollar Firms | Pre-Open, Oct 20 appeared first on The Rio Times .
Latin American markets opened with caution on Tuesday, as a stronger dollar and high oil prices presented conflicting forces. The dollar index (DXY) climbed 0.11% to 101.95, while the euro weakened to 1.1214 and the yen dropped to 158.50. Oil prices were mixed, with Brent settling at $109.55 a barrel, down 0.3% from Friday, while WTI rose 2.2% to $103.66.
Brazil's Ibovespa closed at 205,079.25, down 0.17%, as it grappled with the impact of a stronger dollar and oil prices. Mexico's IPC and Chile's IPSA showed minimal movement. Colombia's COLCAP dropped 1.75%, while Brazil's currency, the real, strengthened slightly as the dollar slipped 0.58% against it to 5.0335. The Selic, Brazil's central bank benchmark rate, remained the focus, but market attention shifted to US housing data and Argentina's leading indicator.
The US market saw a mixed performance, with the tech-heavy Nasdaq jumping 1.11% and the S&P 500 adding 0.41%, while the Dow Jones slipped 0.07%. The VIX fear gauge fell 7.75%, suggesting less concern about a sharp sell-off. However, the mixed signals from the dollar and commodity prices left the regional markets undecided, with Brazil's Ibovespa caught between firm oil prices and the drag of a stronger dollar.
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Also reported by 1 other outlet
- Brazil Stocks Slip 0.2% as Real Firms 0.6% | Morning Call, Oct 20 riotimesonline.com
