Argentina’s peso strengthened for the third straight day on Friday, driven by optimism that the government would sign a revised financing deal with the International Monetary Fund to include stricter fiscal measures and faster cash disbursements.3 comments
Brazil stocks were lower after the close on Thursday, as losses in the real estate, industrial and financial sectors sectors led shares lower. At the close in Sao Paulo, the Bovespa index lost 0.01%.Add your comment!
Argentina's peso currency fell 3.51% on Thursday to close at a new record low of 39.9 per U.S. dollar, as market confidence ebbs away despite President Mauricio Macri's efforts to reassure investors. Dollar demand had risen on Thursday due to high liquidity sparked by an auction of treasury notes, traders said.13 comments
Argentine equities and the Peso continued on Tuesday their slide amid global trade tensions, uncertainty about Argentina's 2019 fiscal budget, talks between the government and the International Monetary Fund and the political situation in Brazil, which together with China are Argentina's main trade partners
Argentina’s peso slid further on Tuesday as investors reacted with skepticism to president Mauricio Macri’s plans. Many worry he will not be able to push reforms through a restive Congress amid growing frustration on the streets of Buenos Aires.
President Mauricio Macri unveiled plans on Monday to raise export taxes on grains and slash the number of government ministries in a bid to balance its budget next year, as Argentina seeks a deal with the IMF to accelerate a US$ 50 billion standby loan program.
The economic and foreign exchange crisis in Argentina and the growing uncertainties in the political scenario of Brazil ahead of October's presidential election also had an impact in the Brazilian currency and markets, forcing the Central bank to come out with a US$ 1.5bn support.
Argentina’s central bank auctioned a total of US$ 200 million of its reserves in two separate currency auctions on Tuesday after the peso hit new lows, the monetary authority said in a statement.
The Brazilian Real led losses in Latin America as lingering concerns over presidential elections overshadowed a largely positive environment for emerging market assets. The US dollar ended trading at 4.333 Reales.
The dollar stepped back from 13-1/2-month highs against other major currencies on Friday as talks next week between China and the United States offered some hope that the world’s two largest economies will find a way to head off a full-blown trade war.