It is exactly to that wow factor which is causing the financial dollars to trend lower this Friday, after the bullish rally on Thursday. However, the market does not observe an appearance of official intervention this Friday, but they explain to Ámbito that the fall is explained, “mainly, because yesterday’s rise was somewhat exaggerated.”
Thus, it would be a readjustment, as indicated by some financial analysts and they dismiss that the BCRA is operating to cause the drop, at least for the moment, taking into account the operator values.
It happens that, if an operator knows that they are going to intervene every day in the bond market at a certain time, You can build your strategy based on that and anticipate the plays to take advantage of them.
Although it is about a valid strategy that plays with the surprise factorSome City analysts warn that the problem is that the way he implemented it is a bit risky because letting the dollar jump 6% in an hour, for example, as happened this Thursday, is not a good sign either.
The effects on the dollar market
However, due to the dynamics of the first operations, it seems that it is giving good results, because, despite yesterday’s jump, it is only rearranging downwards this Friday.
Analysts consider that we will have to see how the dynamics continue and also how it impacts the blue. It is likely that some investors who were operating in the MEP are rushed to that market as a result of these changes, but in the smaller segment.
In fact, this Friday, the blue shows an upward trend after opening lower than Thursday.
Likewise, the BCRA yesterday increased the rate of devaluation of the peso in the official market and this Friday it maintains that same policy, so that the monthly crawling peg (the daily rate of depreciation of the national currency) is around 8%.
Let us remember that, at the end of last month, the BCRA had raised the pace of the crawling peg (the daily micro devaluations of the peso) up to 8.2% per month and, since the beginning of May, it had been dropping it to levels close to 6% and 7%. Now, it seems to be resuming the dynamics of last month.
note in development
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
