(Updated at 1451 GMT)

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Brazil c.bank to stand pat for second time on July 31,

poll says

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Usiminas plunges on 'weak' Q2 results, outlook

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Brazil's Vale says Q2 net profit triples

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Chile c.bank to keep interest rate at 5.75% in July, poll

says

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Stocks flat, FX down 0.2%

By Johann M Cherian

July 26 (Reuters) - An index tracking Latin American

currencies edged lower on Friday, and was poised to end the week

in losses, tracking weaker commodity prices while investors also

assessed corporate earnings reports out of Brazil.

MSCI's index tracking currencies in the resource-rich region

slipped 0.2% against the dollar, and was poised

for a weekly drop of 1.8%, its steepest drop in six weeks.

Iron ore producer Brazil's real dipped 0.1%, but was

set to end the week lower by nearly 1%, tracking a weekly

decline in prices of the base metal.

A Reuters poll showed economists expect the local central

bank to stay pat on interest rates for a second time in a row

next week as a wave of currency instability deepens policymaker

concerns over the trajectory of consumer prices.

Currencies of oil exporter Mexico slipped 0.2% as

crude prices dropped more than $1 and were headed for a third

consecutive week of declines.

The world's largest copper producer Chile's peso

dipped 0.2% as prices of the red metal were set to end its third

week in losses. The central bank is expected to hold its

benchmark interest rate at 5.75% at its monetary policy meeting

next week, a poll showed.

Bucking the trend, Colombia's peso firmed 0.6%, while

Peru's sol also strengthened 0.6%.

On the equities front, Brazil's Bovespa added 0.4%,

with Vale rising 1.3%, on track to notch its biggest

one-day gain in over a month after the mining giant said its

second-quarter net profit was triple the year-earlier period,

beating analyst estimates as sales jumped.

Still, analysts at Jefferies said in a note: "The days of

Vale as a double-digit capital returns yield story may be over

for now, but we expect cash flow and capital returns to

significantly improve in 2025 due to higher iron ore, copper and

nickel volumes, and higher copper and nickel prices."

Usiminas tanked 16% after the steelmaker reported

a loss in the second quarter and was operationally weaker than

expected, in a period in which the national steel sector was

impacted by strong imports and pressure on steel prices.

A broader index tracking regional bourses

was subdued, set for its biggest weekly decline of 3.1% since

early June.

Indexes in Mexico and Colombia edged lower

by 0.1% each, while Argentine stocks rose 1.4%.

During the weekend, attention will also be on oil producer

Venezuela's presidential elections.

Key Latin American stock indexes and currencies:

Latin American market

prices from Reuters

Stock indexes Latest Daily %

change

MSCI Emerging Markets 1072.14 -0.17

MSCI LatAm 2185.61 -0.11

Brazil Bovespa 126577.58 0.5

Mexico IPC 52759.77 -0.33

Chile IPSA 6460.72 0.31

Argentina MerVal 1560440.81 1.441

Colombia COLCAP 1351.91 -0.13

Currencies Latest Daily %

change

Brazil real 5.6534 -0.11

Mexico peso 18.4580 -0.06

Chile peso 950.6 -0.14

Colombia peso 4014.05 0.60

Peru sol 3.7395 0.12

Argentina peso 929.0000 0.11

(interbank)

Argentina peso 1425 1.40

(parallel)

(Reporting by Johann M Cherian in Bengaluru; Editing by Emelia

Sithole-Matarise)