Saturday , June 19 2021

Another day when markets smiled: the dollar fell, the country's risk fell and stock market euphoria



Argentina is connected with the world. that's why On the day he fell to the dollar against the six major currencies of the world and Latin America, the Central Bank had to intervene and buy $ 75 million at an average of $ 37.80. to avoid falling below the levels of the previous day and to move further from the lower flotation strip.

And he received it but with pleasure for nothing. The dollar rose 3 cents to 38 dollars, thanks to a large private purchase of $ 7 million at the last minute.

The problem with the dollar is still that. Everyone wants to have the currency they have, but cWhen you want to finance pesos, the percentage the bank wants to borrow or a discount on a document is so high that they burn their savings or their dollar reserves before they get into debt.The secret of the money plan is that he left the dry pocket market because the Central Bank absorbed almost everything captured within a certain period of time.

The hope is that the drop in fees paid to the public will affect those that are imposed on companies. But the question is a risk. Companies are not able to submit folders that make up banks, and few are entitled to borrowing. The same applies to documents. Few operators and banks are encouraged to retreat and far fewer SMEs. If they do, they want rates higher than 50 percent.

The currency market seems to be divided into two. In the banks and stock houses, the dollar to the public was sold at $ 38.94, down 13 cents. "Blue" continues to rise. It has increased by 25 cents to $ 37.75.

Reserves increased by 134 million to 66,0127 million dollars because abroad, due to the rise in gold and government bonds, $ 77 million was won, to which we have to add $ 75 million that Central bought in the wholesale market. Payments are only 1 million for Brazil.

The interest rate continued to decline. Supported by the lack of pesos, the Central Bank released 190 billion dollars liquidity letters at an average rate of 44.36% which is 0.79 points lower than the previous day. But in addition to lowering interest rates as the sale exceeds maturities, it absorbs $ 3,400 million, equivalent to what is released when it buys dollars from business and the public.

With this scenario, when stock markets grew, especially Wall Street, because have changed the mood of investors, convinced that a solution to China is approaching and that another closure of the US administration will be avoidedbond bonds fell. The decline in the world's benchmark benchmark led to a country's country's drop of nearly 2 percent to 670 points after four consecutive declines, despite a slight decline in Argentine benchmark bonds. For example, Bonar 2024 lost 0.24% and Bonar 2020 – 0.10%.

The stock market experienced a wheel of euphoria. With an acceptable amount of 777 million dollars, the index of the leading shares of S & P Merval rose by 1.79%. It ended in the maximum of the day. The rise of oil and banks has provoked the cause of the market. Petrobras led by 4.75%, followed by Banco Francés with 4.03% and YPF by 3.58%.

Argentina's ADR – shares certificates sold on Wall Street in dollars – echoed what happened in Buenos Aires. The podium was composed of MercadoLibre (+ 3.8%) and Banco Francés (+ 3.55%).

A good round is expected for Wednesday. There may be profit on the stock market, but it will be quickly swallowed because there is a demand for paper. The stock exchange has become an intermediary between the peso and the dollar.


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