Latest news with #Latam
Business Recorder
4 days ago
- Business
- Business Recorder
Latam FX lower, stocks mixed as caution prevails ahead of US tariff deadline
BRASILIA: Most Latin American currencies were dented by a stronger dollar on Friday, and stocks declined, as investors grew risk-averse ahead of the US tariff deadline and a slew of monetary policy decisions next week. US President Donald Trump said there was a '50-50' chance of a trade deal with the European Union, though European diplomats said a framework deal could happen this weekend. He also hinted that the Federal Reserve may be ready to cut interest rates, amid repeated calls and persistent criticism of Fed Chair Jerome Powell. The central bank meets next week. On the day, the uncertainty pushed the dollar index up 0.3%, pressuring most Latam currencies. MSCI's index tracking these currencies was down 0.2%, but set for its second week of gains. Currencies in Chile and Colombia were the worst hit, down 0.8% and 0.7% against the dollar. Declining copper prices added to declines in the Chilean peso. Brazil's real fell 0.3%. Domestic inflation remained well above the central bank's target range in mid-July, data showed. The reading comes ahead of the central bank's meeting next week, where it is widely expected to hold interest rates at a two-decade high, in a pause to its tightening cycle, where the Selic rate was raised by a cumulative 450 basis points since August. This week, markets took on more risk after the US signed a trade deal with Japan and signaled that more agreements were in the works, reviving some hopes that the worst tariff impacts could be avoided. 'Markets got excited with the Japanese trade deal because the outcome was slightly better than expected and there was some read through to what that could mean for trade negotiations with Europe,' said Christine Reed, EM portfolio manager at Ninety-One. 'Now people are taking chips off the table ahead of some new tariff negotiations, concerned that this could increase volatility in the market.' In Argentina, the peso was flat while stocks jumped 2.3%. Dollar bonds in the country were broadly higher after the International Monetary Fund reached a staff-level agreement on the first review of its extended fund facility with the government, potentially unlocking about.
Otago Daily Times
20-07-2025
- Climate
- Otago Daily Times
Contrails at sunset an 'amazing sight'
PHOTO: IAN GRIFFIN The Latam Boeing 787-9 Dreamliner flight from Sydney to Santiago passed above Dunedin yesterday. As the setting sun shone upwards through and beyond the condensation trail from the aircraft, it cast a shadow on the clouds above the plane's route. The phenomenon was caught by ODT Skywatch columnist Ian Griffin from his home in Portobello. He said it was an amazing and unusual thing to see. "It was quite an amazing sight, and it looked like a bit of a rocket launch."
Otago Daily Times
20-07-2025
- Climate
- Otago Daily Times
Flying into the sunset
PHOTO: IAN GRIFFIN The Latam Boeing 787-9 Dreamliner flight from Sydney to Santiago passed above Dunedin yesterday. As the setting sun shone upwards through and beyond the condensation trail from the aircraft, it cast a shadow on the clouds above the plane's route. The phenomenon was caught by ODT Skywatch columnist Ian Griffin from his home in Portobello. He said it was an amazing and unusual thing to see. "It was quite an amazing sight, and it looked like a bit of a rocket launch."
Yahoo
17-07-2025
- Science
- Yahoo
Chile leads push for 'Latam-GPT'
More than 30 Latin American institutions are collaborating to build their version of ChatGPT, trained on local languages and nuances. Artificial intelligence chatbots made by US firms are available in other languages, but their Spanish-language capabilities are largely powered by data that is from Spain or translated from English text, which can lead to inaccuracies, Rest of World wrote. The Chile-led 'Latam-GPT' project is trained on text from local schools, libraries, and historical documents, and is designed to include Indigenous languages and dialect variations. Latin America has been seen as slow to adapt to AI; researchers in Southeast Asia, East Africa, and India have already pushed forward with efforts to tailor AI to their populations and languages. Solve the daily Crossword
Reuters
02-07-2025
- Business
- Reuters
Mexico peso set to slip after expiry of US tariff hike freeze
BUENOS AIRES, July 2 (Reuters) - The rallying Mexican peso is set to slip in the coming months after a temporary freeze on U.S. tariff hikes against other countries expires next week, a Reuters poll showed. This would end a run-up that brought the currency to its strongest in almost a year last quarter following a sharp drop due to trade concerns at the end of 2024. So far, the recovery has been supported by what turned out to be relatively benign new rules for Mexican exports in U.S. President Donald Trump's overhaul of trade, as well as by the dollar's retreat. The peso is forecast to fall by a moderate 5.5% over the next 12 months to 19.80 per dollar from 18.72 on Tuesday, according to the median estimate of 22 FX experts polled June 27-July 2. That new one-year consensus view is the firmest since an estimate of 19.20 per dollar in October. Year-to-date, the Mexican peso is up 13.2%. In the last week of a 90-day pause on steep tariffs for many countries that Trump announced in April, tensions remain high between the United States and China, the European Union and Japan as trade partners work on different proposals. While global frictions could weigh on its volatile currency, Erick Martinez, Latam FX and rates strategist at Barclays said: "Mexico is not subject to reciprocal tariffs, taking pressure off the peso into the global July 9 deadline." Any weakness should be limited "thanks to the protection of the USMCA (agreement) by which Mexico has maintained preferential trade treatment in the U.S.," said Alejandro Saldaña, chief economist at Ve por Mas. Monetary policy also looks supportive as the Mexican central bank's cautious easing cycle and the possibility of rate cuts in the United States mean the market anticipates high local interest rate spreads will persist. However, the potential renegotiation of Mexico's trade agreement with the U.S. and Canada is likely to stoke uncertainty. In Brazil, the real , will likely depreciate 4% to 5.69 per dollar from 5.46 on Monday in 12 months. The currency is shielded by the highest local interest rate in two decades. In Argentina, the peso is seen dropping 17% in one year to 1,465 per dollar, a moderate variation for the crisis-stricken currency that would still leave it within government targets. Year-to-date, the Brazilian real has gained 11.2% and the Argentine peso has shed 15.7%. (Other stories from the July Reuters foreign exchange poll)
