Reuters: US Dollar Report: RPT-EMERGING MARKETS-Latam FX little changed on weak data, stimulus hopes

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RPT-EMERGING MARKETS-Latam FX little changed on weak data, stimulus hopes Sep 3rd 2012, 16:32 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Mon Sep 3, 2012 12:32pm EDT * Trading volumes fall with US Labor Day holiday * Weak Chinese data weighs on commodity exporters * Stimulus expectations support Latam currencies By Natalia Cacioli SAO PAULO, Sept 3 (Reuters) - Latin American currencies were little changed on Monday after weak Chinese manufacturing data weighed on the outlook for commodity exporters, while hopes of further monetary stimulus supported prospects for dollar inflows to emerging economies. The Mexican peso was near flat at 13.1890 per dollar as trading volumes dwindled with the U.S. Labor Day holiday. The Brazilian real dipped 0.2 percent to 2.0331 per greenback after an official reading on China's manufacturing sector fell below 50, the mark separating growth from contraction, for the first time since November. China is Brazil's main trading partner. A similar survey from Markit, sponsored by HSBC, showed Chinese factory activity shrinking at its fastest pace since March 2009. Poor manufacturing data was also seen in the euro zone, where activity contracted for the 13th month. The numbers added to the expectation that the European Central Bank will soon give details about a much-anticipated bond buying program to lower borrowing costs for countries such as Spain and Italy. Investors expect the bank to provide details on that program at the end of its monetary policy meeting on Thursday. "We are still awaiting new stimulus measures; the focus now is on the ECB meeting," said Mauricio Nakahodo, an economic research consultant with Tokyo-Mitsubishi bank in Sao Paulo. In Brazil, Nakahodo added, the real is expected to remain trading within a narrow range of 2.0 to 2.1 per dollar, a level "that stimulates exporters but does not bring inflationary pressures." Latin American FX prices at 1610 GMT: Currencies daily % YTD % change change Latest Brazil real 2.0335 -0.17 -8.11 Mexico peso 13.1890 0.08 5.92 Argentina peso* 6.3300 0.63 -25.28 Chile peso 480.8000 -0.08 8.01 Colombia peso 0.0000 #DIV/0! #DIV/0! Peru sol 2.6070 0.12 3.45 * Argentine peso's rate between brokerages Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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