By Pranav Kashyap

Sept 2 (Reuters) - Most emerging market currencies slipped on Tuesday as the dollar strengthened, while Turkish stocks fell after a court ousted Istanbul's provincial opposition chief.

Turkish stocks .XU100 fell 3.8%, putting them on track for the steepest daily fall in over five months, while the lira TRY= hit a record-low.

The ouster is the latest judicial blow to opponents of President Tayyip Erdogan. In an unprecedented crackdown, 15 opposition mayors - among them Istanbul’s Ekrem Imamoglu - have been detained.

Meanwhile, the MSCI index for Latin American currencies .MILA00000CUS dropped 0.4%, and a similar gauge for stocks MILA00000PUS fell 0.5%.

The Brazilian real BRL= slid to a two-week low as second-quarter GDP showed a sharp slowdown, while exceeding forecasts.

Although inflation has cooled, it is above the central bank's target range, giving reason for caution.

"Brazil's economy is like driving with your foot on the accelerator your foot on the brake at the same time," said David Nicholls, emerging markets portfolio manager at East Capital.

Stocks in Sao Paulo .BVSP fell 0.4% on the day, and lag their regional peers in terms of year-to-date performance.

"You're not seeing the outflows, but you're not seeing inflows as well. When we start to see rates come down, you will start to see more of local investors coming in" Nicholls added.

Argentine assets are in spotlight ahead of elections in Buenos Aires on September 7 and mid-terms in October.

An alleged bribery scheme involving senior officials has cast a shadow over President Javier Milei, prompting a slide in the country's assets.

The Argentine peso ARS=, ARS=RASL was just off its record-low hit in the previous session, while stocks in Buenos Aires .MERV fell 1.2%.

Meanwhile, the dollar =USD advanced after falling for the last five sessions, pressuring most EM currencies.

With the dynamics of the U.S. labor market under the microscope, investors await data that has the potential to recalibrate expectations for the Federal Reserve's next move.

The numbers will be U.S. data on job openings and private payrolls on Thursday and non-farm payrolls on Friday, ahead of August inflation on September 11.

Meanwhile, the Mexican peso MXN= hit a two-week low, while Chile's CLP= hit a near one-month low.

Stocks in Colombia .COLCAP ticked up 0.1%, while the country's currency COP= slipped 0.1%.

Key Latin American stock indexes and currencies:

(Reporting by Pranav Kashyap in Bangalore; editing by Barbara Lewis)

((pranav.kashyap@tr.com; +919886482111;))