The president of the United States, Donald Trumpannounced this Sunday that it will implement A 100% tariff to all foreign films that arrive in the countryin an attempt to stop what the “Destruction” of the American film industry.
In the local square, The Minister of Economy, Luis Caputo announced on Monday the start -up of a deregulation for the use of dollars to buy appliances, cars, and houses that will be ready in the coming weeks. “The idea is to buy what you want and nobody asks for explanations,” confirmed the head of the Treasury. In this way, the Government seeks to promote the use of -according to an official estimate – U $ 200,000 million saved.
Within that framework, the S&P Merval 1.9% fell 2,059,931.67 basic pointswhile measured in dollars yielded 3.8% until its lowest value since April 11, Rueda in which the exchange rate was flexible. The leading actions that lost the most were Supervielle Group (-5%), Macro Bank (-4.5%), Metrogas (-4.5%), YPF (-3.6%) and North Gas Transport (-3.1%).
In Wall Streetthe actions fell to 9.2% by the hand of Bioceresfollowed by YPF (-3.4%), Pampa Energy (-3.2%), Cresud (-2.9%) and Edenor (-2.9%).
As for Bonds in dollarsthe ones who fell the most were the Global 2038 (-3%), the Global 2029 (-2.5%), the Global 2041 (-2.4%) and the Global 2046 (-1.5%). The country risk, in that context, remained around 741 pointsaccording to the measurement of JP Morgan.
What will happen in the local market
“The market seems to believe to the Government: after the implementation of the new exchange program, The expectations on the implicit exchange rate, previously triggered by uncertainty, were anchored“Delphos Investment said.
For its part, the economist Roberto GerettoHe said: “The relaxation of the stocks in April was good news for double. Not only the dollar was not located at the top of the band, but also The ‘Pass-Through’ at prices was almost null. With this, April inflation is expected to be less than March. “
“It is still essential to promote a positive currency flow of a recurring nature; however, for now The political eagerness predominated to reduce inflation“Vatnet Financial Research said.
“The Merval falls from the 55 -day exponential mobile average in the 2,289,000 points to the 200 -day exponential mobile average in the 2,066,000 points. However, It is possible that the Merval has reached a support zone, where the 2,000,000 points area stops the index fall“Alexander Londoño estimated, from Activras.
“We maintain Our constructive approach For the next few weeks, waiting for the Central Bank to resume the accumulation of reserves under the new exchange regime. Exchange bands interrupted the loss of reservations and seasonality should favor accumulation, “said Adcap.
Source: Ambito
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