EMERGING MARKETS-Latam FX slips as data deluge looms; Trump–Putin talks in focus

By Pranav Kashyap, Purvi Agarwal and Sukriti Gupta

Aug 11 (Reuters) - Most Latin American assets edged lower on Monday as investors anticipated fresh economic data from the United States and other regions, while monitoring developments in U.S.-Russia talks and trade relations with China.

Investors are awaiting U.S. inflation data, scheduled for release on Tuesday, to evaluate the potential impact of tariffs on the world's largest economy.

The dollar index =USD was 0.4% higher, bouncing back from last week's declines, pressuring most Latin American currencies, with MSCI's index .MILA00000CUS down 0.4%.

Mexico's peso MXN= fell 0.6%, the most among peers, while stocks .MXX ticked up 0.6%. Data showed the country's June industrial output fell by 0.1% from May and down 0.4% year-on-year.

Brazil's currency BRL= dipped 0.1%, while the country's stocks .BVSP were down 0.2%.

Brazil Finance Minister Fernando Haddad said that his planned virtual meeting with U.S. Treasury Secretary Scott Bessent, initially set for Wednesday, had been canceled, with no new date scheduled.

The cancellation is a setback for Brazil, which had aimed to use the meeting to discuss U.S. President Donald Trump's 50% tariffs on several Brazilian goods.

Local inflation data for July, due on Tuesday, is expected to remain elevated but show softer core trends, according to economists polled by Reuters.

Brazil, a member of the BRICS group, has faced increased pressure from Trump, who has accused the bloc of pursuing "anti-American policies".

Other BRICS nations, including India and South Africa, are also contending with some of the highest U.S. tariff rates.

Trump signed an executive order on Monday extending the deadline for China tariffs by another 90 days, postponing the implementation of triple-digit tariffs on goods traded between the two nations.

"These organizations of smaller economies are kind of collectively getting together to have greater trade between each other, and that's not going to be in the U.S. interest," said Charles Sunnucks, portfolio manager for EM strategy at Oldfield Partners.

On the flip side, Colombia's peso COP= gained 0.2%, while the Argentine peso ARS=RASL was up 0.3%.

The war in Ukraine stayed in focus for investors ahead of a planned meeting between Trump and Russian President Vladimir Putin on August 15, amid concerns in Kyiv that the leaders may propose territorial concessions to resolve the 3-1/2-year conflict.

Trump's remarks that both countries might need to cede land to end the war added to uncertainty.

Ukraine's international dollar bonds were marginally lower, after falling broadly by 1 cent earlier in the day.

An index tracking Latam stocks .MILA00000PUS fell 0.6%. Chilean stocks .SPIPSA rose 0.9% to a record high, while Colombian stocks .COLCAP were up 0.6%.

Colombian Senator and presidential candidate Miguel Uribe, who was shot in the head during a campaign event two months ago, passed away early Monday, officials confirmed.

Latin American stock indexes and currencies: