(Updates with final prices, adds Mexico)
By Bruno Federowski
SAO PAULO, May 29 Latin American stocks and
currencies seesawed on Monday on thin trading volumes, with
several major foreign markets closed due to local holidays.
Holidays in the United States, China and the United Kingdom
kept a lid on liquidity, driving many investors to remain on the
In Brazil, traders erred on the side of caution ahead of a
key central bank decision after market close on Wednesday and
the release of first-quarter gross domestic product (GDP)
figures on Thursday.
A mounting political scandal threatening to oust President
Michel Temer has led many to dial back bets on a sharp 125
basis-point interest rate cut this week, with rate futures
suggesting a 100 basis-point instead.
Investors fear the crisis could delay the implementation of
ambitious pension and labor market reforms seen as key to plug a
growing budget gap.
The Brazilian real slipped 0.13 percent, while the
benchmark Bovespa stock index fell 0.51 percent.
Mexico's peso rose by 0.2 percent against the dollar,
tracking gains in the price of oil.
However, Mexican Finance Minister Jose Antonio Meade said
the currency could still be subject to volatility in the times
ahead as the country gears up to renegotiate the NAFTA trade
agreement with the United States and Canada.
The Mexican stock index closed down 0.45 percent.
Key Latin American stock indexes and currencies at 2130 GMT:
Stock indexes daily % YTD %
Latest change change
MSCI Emerging Markets 1015.19 -0.18 17.73
MSCI LatAm 2565.00 -0.84 9.58
Brazil Bovespa 63670.94 -0.51 5.87
Mexico IPC 49450.48 -0.45 8.34
Chile IPSA 4890.49 0.08 17.80
Chile IGPA 24529.23 0.06 18.30
Argentina MerVal 22347.43 0.92 32.09
Colombia IGBC 10757.22 0.26 6.21
Venezuela IBC 73959.10 -0.22 133.27
Currencies daily % YTD %
Brazil real 3.2695 -0.13 -0.22
Mexico peso 18.472 0.2 12.30
Chile peso 674.1 -0.37 -0.56
Colombia peso 2910.75 -0.03 3.12
Peru sol 3.285 -0.27 3.93
Argentina peso (interbank) 15.9500 0.03 -0.47
Argentina peso (parallel) 16.36 -0.43 2.81
(Reporting by Bruno Federowski; Editing by Sandra Maler)