Economists expect to keep up the pressure on the dollar, by the PASS and by the US-China tension – Telam

"This week, there will be more pressure on the exchange rate, we started to see it last week." Electoral polls are circulating and volatility could increase, "said financial badyst Christian Buteler, under discussion with Telam.

"There will be pressure, increased demand, the offer will retract until the result can liquidate what you need and we will see how the Central Bank works."

"The Central Bank has a tool that it has not used yet, which is to sell directly, which is good that it did not do because It is a last hurdle, she is doing well to use heavy artillery next week, depending on the outcome "considered.

Prior to this scenario, after the presentation of June inflation data, the president of the Central Bank, Guido Sandleris, had anticipated the effects of electoral uncertainty and indicated that the government expects a foreign exchange offer of 16 billion US dollars in the second quarter. semester by considering treasure sales and agriculture.

As a result, he envisioned a band-level dollar even with the effect of the elections, he detailed in the presentation of the BCRA Monetary Policy Report,

Buteler added that "the result will clearly indicate what will happen in the coming weeks," he said.

Economist Gustavo Neffa said that "last week, international markets were overthrown and that two of the three engines play against risk-taking.The Fed's rate policy and the other the commercial fight between the United States and China ".

The director of Research for Traders told Telam that "the commercial fight between the United States and China has an impact on falling prices, soybeans have had the worst week in 3 months and affected oil, when we we have the ambition of Vaca Muerta.A reduction in international trade has repercussions on Argentina. "

"The third factor, the profits of North American companies, was fortunately good."

"In Argentina, although we are seeing an improvement in government surveys and lower and lower rates, investors are turning back on their own, coming back on the dollar, on US bonds, the aversion to risk increases, "he added.

"Argentina is in its own struggle, with a political struggle," he said, adding that "the foreign exchange market will be conservative, with the dollar pushed to the landfill by convertible portfolios."

In this sense, he said that "the power plant has a lot of firepower and only applied it to the futures market, so it can use whatever the IMF is allowed to sell".

Similarly, Federico Furiase, economist director of the consulting firm EcoGo, badyzed that "here at PASO, we could witness a disarmament of positions in pesos of foreign funds, a certain pressure on the country risk and on the foreign exchange market ".

"With a central bank very active in the sale of futures and without margin to lower the interest rate in order to keep control of monetary aggregates and the exchange rate, facing this great uncertainty that is the PASO ", he added to Telam.