Latin America Markets See Mixed Performance Amid Oil Price Surge

Latin American markets showed mixed performance on Monday as a softer US dollar provided some support. However, oil prices rose due to military tensions in the Middle East.

The MSCI's Latin American currency index increased by 0.2%, but still faces a weak monthly performance. The dollar index fell by 0.2% ahead of key US jobs data and the Federal Reserve's September policy decision.

Fed Chair Kevin Warsh suggested that policymakers would need to take action if inflation fails to reach the central bank's 2% target, implying potential additional tightening.

The attack on an Iranian island in the Strait of Hormuz pushed oil prices up by over 2%. This increase benefited oil-producing economies but also drove global bond yields higher.