The financial dollar goes down this Thursday May 11 after the strong rebound from the day before, but remains above $440, with investors expecting the inflation data for April, which will be released this Friday, and that it will remain at high levels, close to 8%, according to various private estimates.
Under official intervention and conditioned by the latest restrictions, the dollar “counted with liquid” (CCL) -operated with the GD30 bond in the Price-Time Priority or PPT segment- it fell 32 cents (-0.3%) to $441.32. Indeed, the spread with the officer is located in the 92.7%.
For his part, he dollar MEP or Bag -operated with the GD30 bond in the PPT market- it yields $1.59 (-0.4%) to $434.50. So, the gap with the officer reaches the 89.7%.
In the caves, meanwhile, the blue dollar increases $3 to $475 for sale, so the gap exchange came to 106.6%.
Operators agreed that the Central Bank was firmly intervening to stop the devaluation line, through liquid currencies and sovereign bonds, in the face of reticent agro-exporters despite a special exchange rate for the sector.
“The dollar shelters you from the helplessness that inflation represents, especially when people run away from the peso, except for those who risk the exorbitant interest rates that the market has”said analyst Marcelo Rojas.
His colleague Salvador Vitelli highlighted that “with the reserves under pressure (…) the purchases (of foreign currency) of the Central Bank do not rise despite a better liquidation of the ‘agricultural dollar'”.
The INDEC will release this Friday the retail price index (CPI) for April, a period in which private analysts forecast an average increase of 7.5%, after the surprise 7.7% in March, its highest levels in just over Two decades.
The IMF said Thursday that there are “positive” talks with Argentina to rediscuss goals of a last agreement, according to its official spokeswoman, linked to the historic drought that affected the public coffers of the Government. The spokeswoman made no reference to an expected advance of fresh funds to help the BCRA reserves.
The Supreme Court of Justice suspended the elections for governor in Tucumán and San Juan scheduled for Sunday due to opposition questions regarding the constitutionality of the pro-government candidates, which generated another short circuit with the administration of President Alberto Fernández, something that also plays into against the market.
For its part, the country risk of JP.Morgan rose 22 basis points to 2,526 units.
Source: Ambito
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