Latin American stocks and currencies were battered on Monday by continuing worries over European debt, concerns over China’s move to curb real-estate speculation and a disappointing manufacturing report from the US.
Amid volatile trading in global markets, the euro touched a fresh four-year low of $1.2235 before recovering to gain 0.3 per cent by the end of trading, and commodities prices were pressured by the stronger dollar and fears over weaker growth.
“With the situation in Europe, a lot of stuff just does not convince. The way they will implement the austerity programs is not clear and if they do manage to adjust deficits, there will be lower growth,” Alejandro Martinez, a debt and currency strategist at HSBC, told Reuters.














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