After a negative day on Wall Street, following the statements by the president of the Federal Reserve of the United States, Jerome Powell, regarding a possible tightening in the monetary policy of the organization, the shares of Argentine companies recoverin a day of stability on the exchange front, while a key price of the US currency exceeded $200 for the first time in Argentina.
Yesterday, the ADRs of local firms listed in New York operated low, with falls of up to 7% (YPF). Today, the trend is reversed, with most stocks trading in the green. Among others, they stand out BBVA (4,5%), Banco Macro (3,8%) y Galician Financial Group (3,4%).
In the country, the Merval index, which yesterday had fallen by 3.4% in dollars, changes trend and today shows a rise of 0.7%. In the accumulated of the year, this indicator accumulates a rebound of 12.5%.
“The tone of Powell’s remarks was markedly hawkishgiven that he assured that “We are prepared to increase the pace of rate hikes” in the event that “all the data point to justifying a tightening faster’. In addition, he stated that recent data “suggests that the level of the terminal rate may be higher than previously anticipated.” So, Powell leaves on the table the possibility of a hike [suba] de 50pbs”, they estimated from the financial firm Grupo SBS.
“Now, the market will be waiting for the employment data for February in the United States to be released this Friday, where an accelerated pace in wages as well as robust job creation might continue to push up both interest rates for UST as on the Fed to accelerate the pace of the hikes. We believe that a new upward surprise in the employment data might pave the way for an acceleration of the hikes a 50pbs, although this might risk a disanchoring of expectations since the Fed would show that achieving the start of the disinflation path would be more challenging than expected”, they added.
This volatility in the financial segment did not transfer to the exchange front, with the parallel exchange rates operating stable, while the BCRA maintains its managed devaluation strategy. In that context, today for the first time official wholesale dollar exceeded $200. With a rise of 36 cents on the wheel, it reached a price of $200.02 and accumulated a rise of 12.9% so far this year. However, a BCRA intervention on the end of the wheel (it sold US$66 million) pushed it back to $199.97.
He retail dollarMeanwhile, it remains at $206.75, according to the screens of Banco Nación. By incorporating the 30% surcharge corresponding to the PAIS tax and the 45% on account of the Income Tax, the dollar card it remains at $361.81. In turn, the qatar dollarwhich arises from adding another 25% surcharge to the Personal Property account, reaches $413.50.
In the informal market, meanwhile, the Dolar blue It sells for $375 in caves and little trees of the city porteña Is regarding an increase of $4 (1.1%) compared to yesterday’s close, when the informal price of the coin had fallen $1.
Meanwhile, financial exchange rates remain stable. He MEP dollar, which allows assets to be dollarized through the purchase and sale of shares or other financial instruments, operates today at $369.60, with a rise of 0.7%.
In turn, the dollar counted with liquidationwhich through a similar operation allows these funds to be transferred to an account abroad, remains at $379 (+0.9%).
THE NATION
