The blue dollar is trading at $ 201.5.
The blue dollar is rising fifty cents, $ 201.5 at the opening this Thursday and the financial dollars are also advancing.
The MEP dollar rose 0.7% and reached $ 206.38while cash with liqui rose 0.4%, at $ 205.8. So far in May, MEP has fallen 0.1% and cash with liqui has fallen 0.6%.
The risk to the country, the JP Morgan indicator that measures the excess amount of debt, remains at 1780 basis points. Argentine bonds are trading in the redwith falls of approximately 1%.
Bonds on Wednesday took advantage of a favorable global climate due to rising Federal Reserve rates and closed the day with an increase of 1%.
The Buenos Aires stock market opened today with a 1.24% decline in its main index, the S&P Merval, which stood at 88,289.35 points.
The volume traded in the shares after the opening of operations exceeded $ 21.4 million.
Parts of Argentina listed on Wall Street also fell, marred by overall market losses, which fell on Thursday after a marked rise on Wednesday. Ternium was the biggest loser, with a decrease of 12.2%, while Mercado Libre dropped 10.3%.
In addition, Globant lost 6.3% and banks fell around 5%, with the rest of the panel also in the red.
Now market expectations are set to see if the Central Bank will be able to maintain the buying streak it showed this week and allow it to accumulate. $ 330 million so far in May.
However, Central is far from the US $ 4,000 million it bought in 2021 for the same date, putting at risk the fulfillment of the reserve goal. $ 5.8 billion focused on the Monetary Fund.
“We believe that the adjustment of agriculture in the first two cycles of the month, has come along $ 585 million, is very high even though it is a period of high seasonality. To converge on values more in line with the annual expansion of March and April (18% and 16%), the elimination of agriculture must soften “indicated from Portfolio Personal Investments (PPI).
“If May were reorganized to an annual variation similar to the previous months, the daily liquidation of the sector would be in the range of US $ 220 million. Consequently, these reserve accumulation levels will not be sustainable “.
For PPI, behind this difficulty in accumulating reserves is the loss of competitiveness of the peso. “A 7% real appreciation in the multilateral exchange rate since the 2021 general election, which is part of a 22% appreciation when measured from December 2020, conspiring against an ongoing accumulation of reserves “.
In addition, to encourage the supply of foreign currency to the Single Free Exchange Market (MULC) during the thick harvest season, BCRA lowered the crawling peg rate in early May.
angIn this way, the financial authority brought the daily devaluation rate (3-day average) to 43.1% of TNA from 49.7% at the end of April (direct monthly rate from 4.10% to 3.55%), remaining below BADLAR, the market reference rate for wholesale deposits.
“The collateral effect of this strategy is that the official dollar will continue to fall, which will negatively affect BCRA’s performance in MULC.“, pointed out the PPI.
Bankruptcy on Wall Street
The New York Stock Exchange rose its losses on Thursday in the middle of the morning, suffering a kick of euphoria which shook the market on Wednesday after the Federal Reserve’s (FED) announcement of rate hikes.
The Nasdaq fell 4.20%, weakened by technology stocks, while the Dow Jones Industrial Average fell 2.05%and the S&P 500 Composite Index fell 2.78%.
Yesterday, the Fed interest rate rose by half a point, to 0.75%-1%, the biggest increase in two decades, although he ruled out the more aggressive increase so far as imagined in recent weeks.
The news was well received by markets, with a jump of 3.4% on the Nasdaq and 3% on the S&P.
AQ
Source: Clarin
