The blue dollar starts the week higher and rises to $ 204

The informal dollar starts the week up and trades at $ 204 Past noon. In this way, it narrows the distance to the financial dollar, because both the cash with liquidation and the MEP dollar moves with a slight decline this Monday.

Meanwhile, in the financial market, Argentina’s stocks and bonds are experiencing volatility. In contrast to major Wall Street indices, ADRs are listed in New York jump to 5.7%, from the hand of Cresud.

The Merval index, which started down the wheel, rotated and advanced slightly 0.9%. Meanwhile, dollar-denominated public securities are operating mixed, and the country is in danger jump over the 1,900 point barrier and stand on 1,908 units.

“Inflationary dynamics are the main threat to local assets, which closed a new week with a massive collapse. Without anchors and with a nominal race launched, Argentina has entered a new regime of high inflation, where expectations have been corrected upwards, ”analysts at Cohen SA said.

“The BCRA, meanwhile, is responding by raising interest rates, but at the same time accelerating monetary expansion by helping the Treasury. Despite the record of liquidation of agriculture, the foreign exchange market does not seem calm. and the purpose of the accumulation of international reserves is in danger of being destroyed“.

Last week, the organization led by Miguel Pesce bought just US $ 20 million, bringing the accumulated net purchases for the month to US $ 540 million, down from the record reached twelve months ago. In May last year, the financial authority raised US $ 2.1 billion.

International reserves felt the blow of lower purchases, which added to the collapse of gold and the yuan. finishn Friday at US $ 41,288 million and accumulated a decrease of US $ 2,000 million so far this year.

what’s going on on wall street

The New York Stock Exchange reopened Monday in the red and its three major indices fell after noon, with the Nasdaq in the lead. Internationally, investors are closely monitoring the war in Ukraine, the market effects of the ever-increasing ban against Russia, the lockouts on China and its effects on the supply chain.

Industrial production in China fell 2.9% year-on-year in an April month marked by harsh restrictions imposed by the country’s authorities in the face of the worst outbreak in two years, according to data published today by the National Statistics Office (ISA).

For his part, expert Tom Essaye, from Sevens Report, highlights that today’s morning decline was due to the same “China’s disappointing economic data” as well as India’s ban on wheat exports.

Meanwhile, at the national level, investors are concerned about inflation in the country, the highest in four decades, as well as that the Central Bank’s plan to curb it has no effect.

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