A truce in the global trade war has somewhat relieved Argentina: soybeans have risen and the dollar has fallen

A truce and a promise of Donald Trump in future negotiations with China, they did Opportunity seekers would buy the cheap newspapers on Wall Street. US stock markets recovered some of what they lost on Monday, but they are still 4% below their May 5th level.

Trump said that if the negotiations were advantageous for the United States, the conflict would be closed. Investors have taken note, but also note that the rate hike remains firm.

The US agricultural sector has said that subsidies for the losses of the trade war have helped, but that their business is selling and that they have lost the Chinese market in Brazil. They think it's going to be difficult to get it back.

In the midst of this scenario, something more benign, all Latin American currencies, with the exception of the Colombian peso, recovered some of the previous day's slide against the dollar. However, the US currency rose 0.18% against the world's major currencies.

In Argentina, on the wholesale market, with a good business share of 830 million USD – 200 million more than the previous day – the dollar lost 19 cents to reach $ 44.99 with a major activity of the Central Bank in the upcoming market and with the two daily $ 60 million Treasury offers.

In banks and bureaux de change, the dollar was sold 23 cents cheaper at 46.19 pesos.

As part of the liquidity auction (Leliq), the Central Bank continued its policy of reducing interest rates. It has placed $ 197.163 million to 71.62% per annum, which represents an irrelevant drop of 0.08 point. But as the maturities of these securities increase, he could not cover them and has released $ 15 billion, which will surely put pressure on the dollar on Wednesday.

The reserves, at all, lost 339 million USD and amounted to 67 458 million USD. The fall of the euro and gold explains part of the fall. To this must be added the $ 60 million proposed by the Treasury and payments to international organizations.

Country risk edged down 0.75% to 924 points as bonds, fell below the dollar and because 10-year US Treasury bonds declined slightly.

The good news came from the soybean side, which has recovered more than 3% and returned to more than USD 300 per tonne.

The Stock Exchange, had "the rebound of the dead cat", as it is called upward after the debacle. With very few companies (only $ 483 million), the S & P Merval index rose 0.65%. It closed almost at the lowest level of the day.

Banco Francés, who paid the coupon, rose 3.08% and was one of the highlights of a poor day of trekking. YPF also performed well recording an increase of 2.51%. The most important drop was that of the center of Puerto with 5.80%.

On Wall Street, Argentinian ADRs – dollar-denominated share certificates – had generalized the increases in favor of Argentina's declaration as an emerging country and its Wall Street shares can now be bought by investors in the US. 'investment.

Banco Francés (+ 4.12%), YPF (+ 3.63%) and Mercado Libre (+ 3.62%) were the highlights of the panel.

The week is not easy. For beginners The Government will deposit four local currency treasury bills, linked to the dollar, plus a rate of 4.25% per annum. They are seeking funds to meet the double bond maturities of June 21 for USD 2 billion. The private sector has 1,500 million euros and the public the rest. But 500 million dollars are in the hands of foreign funds and could seek to leave Argentina.

On the other hand, the conflict with China will remain dormant and will influence the local market because everything had signs, but we do not know anything about concrete solutions. Thus, the dollar continues to balance and is the refuge sought before any doubt, not only in Argentina but in the world.