:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/L6ILQWPOOBADJLKSVVALZ7ZEEY.jpeg "Dollar live today: how much is it opening this Thursday March 9 and what is the price minute by minute 1")
Inverted yield curve: the traditional indicator of fear of a recession in the United States which will hit Argentina
Two-year US Treasury bonds are yielding 5%, above longer-term debt, when it should be the other way around. It is an indicator of the pessimism that reigns on Wall Street for fear of a fall in the economy
Chairman of the Federal Reserve of the United States, Jerome Powell, said benchmark interest rates will rise as much as needed and the adjustment will be larger than expected. The Federal Reserve will meet on March 22 and most traders expect the rate to rise by half a point. Until a few days ago, less than 10% thought of such a rise and bet that it would be 0.25 points. Now 69% think the increase will double.
While the Argentine peso is the regional currency that devalues the most, the rest appreciates
The inflationary phenomenon that erodes the Argentine economy impacts the value of the currency, isolated from the dynamics of Latin America
Economists say that inflation is a monetary phenomenon. In other words, the permanent issuance of money without the support of reserves and economic growth – that is, the production of goods and services – ends up causing the general rise in prices, the reverse of which is the depreciation of the banknotes.
Provincial debt: Governors have already paid $330 million in interest this year and put pressure on reserves
Buenos Aires issued $192 million in recent days for its restructured bonds. Throughout the year, each jurisdiction’s payments to its creditors will cost the Central Bank more than $1.5 trillion
A group of provinces so far this year has made interest payments on its dollar bonds for more than $330 millionwhich added another pressure factor to the Reservations of the Central Bank, in full discussion for a new objective of accumulation of dollars which had just been defined these days with the IMF. Throughout the year, the governors will consume more than $1.5 billion to the BCRA to meet its foreign currency obligations.
The Government has reactivated access to dollars to import and appeased the dissatisfaction of industrialists
Commerce Ministry officials have accelerated the signing of the SIRA in the past ten days, after strong pressure from the Argentine Industrial Union (UIA). What are officials promising factory owners?
After a complex summer in terms of production, with a low level of import approvals, the month of March started with a little more optimism for manufacturers. Based on the intense efforts made by the Argentine Industrial Union (UIA), which daily transmits to the Ministry of Commerce the cases of factories on the verge of paralyzing the production lines due to the lack of inputs -critical situations-, the government has made progress in the past ten days with a cascade of authorizations that has calmed the growing unease that was breathing in the factory.
Super Dollar: Why the Prospect of US Rate Hikes Hits Argentina
On March 22, the Federal Reserve will decide on another rate hike. The market now believes it will be 0.5 percentage points, twice as much as a few days ago. This is because inflation is not going down in this country
Chairman of the Federal Reserve of the United States, Jerome Powellwas ahead of expected data on his country’s economic activity and said what the market didn’t want to hear: we will have to increase the rate more times and at higher levels than expected. The one who is the central bank of the world’s largest economy has given this signal which promises to return to the time of a “super dollar» strongly appreciated in the absence of signs of a marked slowdown in US inflation and the jolts it caused reached Argentine stocks and bonds. Official intervention in the financial dollar market prevented a surge in liquidity with the liquidation and the MEP dollar but, according to traders, these prices are now under pressure.
The government plans to swap today about 50% of the debt into pesos that matures until June
According to the survey conducted by the Ministry of Economy among banks, insurers and companies, the volume would be between 3 and 3.5 trillion pesos. For those who do not enter the operation, monthly tenders will continue, but with a clearer horizon
The government will proceed today with the exchange of the debt in pesos, a key operation to remove the uncertainty concerning the maturities of the coming months. According to the estimates processed by the Ministry of the Economy, participation in the operation would have a floor of 3 billion pesos, but it could even reach 3.5 billion.
Bad agriculture news from the United States drove up all dollar prices
US Department of Agriculture estimates anticipate a double negative scenario for Argentina: low production and low prices
The new crop estimate from the United States Department of Agriculture (USDA) changes the economic scenario in Argentina. The projections have been reduced to 40 million tons of corn and 33 million tons of soybeans and they will negatively influence the price of the alternative dollars and the free dollar which issued an alert yesterday.
The free dollar rose to 378 pesos
During Wednesday’s session, the parallel market-traded currency advanced seven pesos, or 1.9%, to end at $378 for sale. With a dollar wholesaler which gained 28 cents to $199.95, the exchange difference was 89%.
He free dollar He then gained three pesos in March, after a negative February in which he gave up six pesos. In the year 2023, it records a rise of 32 pesos or 9.3%, still lagging behind runaway inflation.
The dollar counted with liquidation rose three pesos to $379 while the MEP went up to 370 pesos.
The economy is now looking to have a 60% floor in the swap of $7 trillion of peso debt expiring this year. He central bank it parted ways with $66 million on Wednesday and racks up sales of $195 million so far this month.
ADRs rebounded nearly 6% on Wall Street in line with overseas markets.
