Sunday , August 14 2022

Financial week: the dollar returned to $ 40, but the central rates indicated the pulse of the markets


It was a volatile and rather timely week for the financial world, where it was Firstly, the increase in the exchange rate was set, profit-taking jobs and hedgerows, but that ended with Central Bank again. The increase in the interest rate of the Liquidity Measures (Leliq) got reverses the transfer of pesos to the North American currency and the departure of investors of stocks and bonds.

Y BCRA He went up this Friday for the sixth consecutive session The product paid for their short-term bills only for banks in Aberystwyth 49.5% e interfere with the bullish streak of the dollar, who reached 40 pesos on Wednesday in the wholesale market and 41 pesos in the retail strip.

"Sterilization through Leliq went to avoid sudden movements towards dollars from the portfolio & agents. In this context, financial policy is facing a limit in relation to the reversal of the interest rate level for the in the end, could be produced in an election year"he explained Martín Calveira, the economist of the IAE Business School of the University of Australia.

"It's reasonable to expect, if Dynamics of falling rates will be small rhythm ", notes the report by the consultant Neix.

The US currency closed the week implemented $ 40.21 for the general public and wholesaler $ 39.22, with Weekly earnings of 1.6%, and is still close to its highest historic prices at the end of September. During 2019 it accumulates a moderate increase of 4 per cent.

Y New demand for US currency, with significant USD 900 million trading volumes in the currency market on Tuesday and Wednesday, it did not mean a reduction in the level of reserves international, who was waiting close maximum historical 67,000 million dollars.

For the public actions and titles It was a week negative which reduced the profit from the promising start of the year. The instability of the dollar fast for the profit and produced nervousness, although the A week is moderated the trend and opens for a stock market that is eager to have new foundations to restart prices recovery.

Stock index S & P Merval ended the week with a decrease of 2% in pesos, at 36,716 points, and away from a maximum of 2019, the 37,685 points on February 12. After measuring in dollars, the leading panel damaged a 3.5 per cent loss.

This decline of dollar prices was made clearer in the travel from ADR Argentineans in the New York Stock Exchange, which fall down in February.

Jorge Fedio, analyst Clave Bursátil, "that the technical adjustment & # 39; with speed and in many cases he was even cruel, with important injuries and without anesthesia that they beat the ADR and, as a result, the actions of a lead panel "ByMA (Argentine Markets and Markets).

Y sovereign bonds in dollars which ended the week with a slight reduction and a Products that expand 9.5 and 12.2 per cent annual for dollar securities.

The prospects for Argentina's assets are improving, the decline is Country Risk, who was staying in 695 basic points.

Outside, momentum could also come bullish for alicaid bonds and Argentina's actions, before the expected developments in the discusses between the United States and China in commercial affairs, now with the US president Donald Trump and a Chinese vice president Liu Ei as accompanists.

The two main economic and commercial powers of the world negotiate against the clock before it comes US request of tariffs in addition to Chinese products from March.

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