Mexican peso leads Latam FX down as US inflation data bolsters Fed rate worries

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US economic growth slows in first quarter; inflation surges 
  
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Lower iron, nickel and copper prices weigh on Vale's earnings 
  
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Cement maker Cemex's Q1 profit climbs despite dip in volumes 
  
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Latam FX off 0.4%, stocks down 0.5%
  
 
April 25 (Reuters) - The Mexican peso led losses among Latin American currencies on Thursday, after 
hotter-than-expected U.S. inflation data reignited concerns that 
the Federal Reserve would delay cutting interest rates. 
The MSCI index for Latin American currencies slid 0.4% by 1500 GMT. 
The peso weakened 1.1% against the dollar on the news of sticky U.S. inflation. 
"What seems to be now causing some havoc across markets is the thought that we may witness a cycle of 'stagflation' in the 
U.S., a time when the economy stagnates while prices remain 
elevated without reprieve," said Juan Perez, director of trading 
at Monex. 
"LATAM odds of exercising loose monetary policy and stay stimulative are basically cemented." 
Other Latin American currencies such as the Brazilian real and Colombia's peso shed 0.5% and 0.7%, 
respectively, against the greenback. 
Bucking regional weakness, top copper producer Chile's peso rose 0.2%, tracking firm prices of the metal as funds 
chased the market higher after a takeover bid by BHP for Anglo 
American, which analysts said was focused on copper. 
Stocks in Latin America fell 0.5%.
Mexican stocks eased 0.1% as Arca Continental shares fell 2.1% after the bottler's first-quarter profit was 
eroded by the strong Mexican peso. 
Cement-maker Cemex shed 1.2% after reporting lower operating earnings, even though first-quarter net profit 
rose 13% on lower taxes and less exposure to financial 
derivatives. 
Brazil's Bovespa index fell 0.4%, as heavyweight miner Vale weakened after it said lower prices for 
iron ore, nickel and copper in the first quarter dragged down 
earnings from the year-ago period. 
Argentina's MerVal rose 1.2% as stocks rebounded after two days of sharp losses. 
Turkey's lira was mostly flat after the country's central bank kept its main interest rate steady at 
50%, as expected. 
Sri Lanka's central bank said it is paramount that the country stick to its Extended Fund Facility agreement with the 
International Monetary Fund and complete its debt restructuring 
process, it said in a report issued on Thursday. 
 
Key Latin American stock indexes and currencies at 1500 GMT:
 Stock indexes             Latest        Daily % 
change 
MSCI Emerging Markets         1027.76          -0.67 
 
MSCI LatAm                    2407.33          -0.56 
 
Brazil Bovespa              124188.19          -0.44 
 
Mexico IPC                   56423.66          -0.07 
 
Chile IPSA                    6321.93          -0.65 
 
Argentina MerVal           1216873.29          1.181 
 
Colombia COLCAP               1345.39           0.15 
 
 
Currencies             Latest        Daily % 
change 
Brazil real                    5.1701          -0.45 
 
Mexico peso                   17.2625          -1.20 
 
Chile peso                      949.8          -0.02 
 
Colombia peso                  3969.6          -0.77 
 
Peru sol                       3.7413          -0.66 
 
Argentina peso               873.5000           0.00 
(interbank) 
 
Argentina peso                   1020           1.47 
(parallel)