May’s first operational week passed with the dollar bassist tendency in the different market segments, with the expected oscillations given the businesses that occurred without official participation in the cash.
The wholesale dollar concluded operated at $ 1,136, after having touched an apartment at 1,107 pesos. Gustavo QuintanaAgent of PR ROOMS OF CHANGE, he said that “in the week that the wholesale dollar has just finished 34 pesos” or 2.9 percent.
He dollar to the public ended at $ 1,150 For sale at Banco Nación, with a weekly recoil of 40 pesos or 3.4 percent. In the average banks the ticket was offered to $ 1,166 (-2.3%).
The price of Blue dollar It cut ten pesos or 0.8%, at $ 1,175, which left the exchange gap with the wholesaler at 3.4 percent.
“The decrease in the dollar continues from private agents that accelerate their foreign exchange sales anticipating a convergence to the band less than 1,000 pesos. This is due to the fact that in the current stage of oversu Lecaps, but also the possible appreciation of the peso ”, synthesized the economist Gustavo Ber.
Without official intervention in the cash market, international reserves remained at the USD 38,155 million, with a drop of USD 805 million, explained mainly due to the disbursement of USD 612 million to pay interest in debt with the IMF.
“One of the bets is the entry of currencies from the liquidation of the field. In this context, from the government they claim that they already have the dollars to face in July external debt maturities with bonists for USD 4.2 billion,” he said Ignacio MoralesChief Investments Officer de Wise Capital.
“We believe that the economic team assigns an excessive weight to the monetary issue, in a context where virtual wallets and electronic means of payment return irrelevant to the concept of demand for money. There seem Max Capital.
“On Wednesday a Abrupt fall in future dollar contracts that judging by operated volumes seems to be influenced by official intervention. With this fall in devaluation expectations both the CER curve and the fixed rate curve compress. This movement of the curves goes in line with the strategy that the government has to prioritize the decrease in inflation, ”said the IEB group (Invest in the stock market).
“While it is not ruled out that it has been the BCRA intervening in futures, there has been no official comment in this regard. The market will be attentive in the next few days to novelties, since the movement in futures was very abrupt,” he contributed Juan Manuel Francochief economist of the SBS group.
“The (yields of the) bonds Hard Dollar They compress 0.67% weekly along the entire curve operating with IRR (internal return rates) between 10% and 12%, still with the inverted curve. In this way the Risk country pierced 700 basic points gradually approaching the other emerging credits located at 437 average points. While the minimum of Macri’s management was 342 points although the rates of the Treasuries They were substantially below the current values, “they evaluated from the IEB group.
The index S&P Merval from the Buenos Aires Stock Exchange reached 2,114,386 points, with a rise in pesos of 0.6%, while the Benefit in dollars was 3.1%given the descent of the parity of the “counted with liquidation”, implicit in the evolution of the prices of Argentine ADR negotiated in Wall Street.
In this regard, they highlighted the dollars of several Argentine species, around 10%, tracias to a more positive business tone in the New York markets, such as the case of Central Puerto (+12,7%), South Gas Transporter (+9.6%), Globant (+9.5%), YPF (+9.4%) and Telecom (+9.3%).
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