The market weathered the storm: the dollar slowed the rise and the rate fell

"It could have been a very bad day", recognized this newspaper an operator to realize the balance of what was the first wheel of the week. Has the upsurge in trade between the US and China put emerging markets in red?

The Argentine peso began to depreciate – 1.70% at first, but ended the wheel with a drop of -0.46%.

Thus, the bill has increased by 30 cents on average. Another fact of no less interest is that the Central Bank (BCRA) validated a reduction in the policy rate which remained at 73.53%, below the previous level of 73.76%.

"The market started very spicy, I think with an overreaction and then it ended up at more reasonable levels, "said Gustavo Quintana of PR Cambios.

Claudio García de Oubiña Cambios agreed that the price of the ticket "has calmed down a lot", after a "furious departure".

From ABC Mercado de Cambios, they specified that the exporters' offer figured in the end. "During the last hour of the operation, exporters have been offering the dollar more.It is estimated at least that they have sold about $ 120 million, even though commodity prices are not the same. was not ideal, "said Fernando Izzo.

The big dollar finished at $ 44.65 in the MULC, 21 cents higher and after losing 40 cents last Friday.

The retail dollar had similar behavior and added 30 cents, while it stood at $ 45.70 on Banco Nacion screens (BNA). At first, the currency was over $ 46.

The average between the banks that makes the station fixed the ticket price in the $ 45.92, 37 cents above.

Trading volume in the cash segment reached US $ 746,335 million, with no dealings in the MAE futures market. The blue dollar was moving at $ 46.50.

Lucas Gardiner, Director of Portfolio Personal Inversiones (PPI) He felt that "the horizon of the quotes will depend on what will happen in the coming days between the United States and China".

"In case the Chinese delegation arrives in Washington on Wednesday, May 8, we think that an agreement is still possible, but if the tensions intensify and the tariffs return, it is likely that the panorama markets is getting worse, "he warned.

The economist specializing in international finance, Luis Palma Cané, explained that the discomfort between the United States and China "caused a further increase in risk aversion" and said that "Where it is most striking in emerging markets in general and Argentina in particular".

In the same spirit, Palma Cané estimated that "fortunately, the Central Bank has the arbitrariness to be able to intervene on the market in case of strong movement".