It is surprising that the dollar rose to $ 1.07 in the fourth consecutive increase. Operators consulted in this way indicated that the currency was given prior to the deposit of funds for investing positions in local currency. The dollar is sold at 37 pesos in Posada.
On the wholesale market, the US currency jumped from $ 1.10 to $ 37.60, which is the most important daily increase in nearly two months. Thus, an increase of $ 1.67 was accumulated over the week.
Operators who consulted in this way pointed out that the resulting surprise of the currency came to the outflow of investment funds into a pseudo-rate bet (they carry a trade), which have fallen gradually over the past few weeks.
In fact, on Friday, the Central Bank confirmed the new reduced rate on the daily auction of Lelika, which remained at 61.405% annually (from 61.699%). The amount allocated was 134.844 million dollars, while the maximum rate was 61.749% (from 62%).
It is worth mentioning that the term Lelika dispersed on Friday from 7 to 10 days after the following Friday that it would be a banking holiday for the G20 summit.
On the market, they also explain that the higher demand for dollars is in line with the excess of liquidity in pesos left by Lebac's recent tender, last Tuesday (about $ 122,000 million).
Despite the prevailing dominance of the high rates approved by the Central and Treasury, in order to combat the rapid escalation of inflation, there are portfolios that begin to position in dollars due to the end of the year's approach and the uncertain political landscape of the presidential election. 2019
As for the day this Friday, demand for coverage was installed early in the development of operations and promoted a successive price increase that shifted previous values in order to overcome a low level of $ 37, – Half a day.
In the last part of the day, the demand for currencies increased, and the values reached a maximum of $ 37.90, a level that can not be maintained until the end of the session, said analyst Gustavo Quintana.
In the meantime, public banks (the Nation, the province and the city) did not attend the public due to a 24-hour strike that was promoted by La Bancaria in an effort to increase salaries.
• The dollar is appreciated in the world
The domestic dollar match was in line with the currency performance of the world, where it appreciated and was on track to record the highest weekly increase in the month, before the risk appetite and the hustle and bustle of investors deteriorated after a drastic fall in oil prices which suggests that world growth is slowing down.
The yen and the Swiss franc, which considered two reserve currencies, also advanced, as oil price collapse caused a wave of aversion to market risk.
US raw fuels fell by 7.3%, at a low session of $ 50.63 per barrel, the lowest level since October 2017. Brent crude lost 5.2% to $ 59.34, also minimal since October 2017.
"The inviolability of risk was a major factor throughout the week, and prices were reduced to market times," said Shaun Osborne, the chief currency strategist at Scotiabank in Toronto.
However, the short-term outlook for the dollar has become a bit more complicated, as some of the recent figures for the US economy have weakened more than expected and several Fed officials were cautious. In general, investors increasingly believe that the Fed can come close to the end of the adjustment cycle.
The euro fell Friday on signs that economic growth might slow down in the eurozone, and is also under pressure to take care of the British negotiations and the British negotiations.
• Other money markets
In the informal market, in the meantime, blue jumped from $ 1 to $ 37.50, according to a study by the media in the caves of the city center of Buenos Aires. The "cash settlement" returned on Wednesday 22 cents to $ 36.23.
In the end, the Central Bank reserves on Thursday four million US dollars and closed to $ 51,831 million. (Volume)