Argentina’s Peso Holds In Tight Range As Stocks Stall
Argentina’s Monday screens still showed Friday’s prices, because the weekend shut local trading.
Key Points
- USD/ARS stayed tight: offshore near 1,440.5, wholesale 1,441, blue 1,445, while official retail was 1,465.
- Bonds outperformed stocks after strong Treasury funding, even as Wall Street dragged ADRs.
- Charts on FX and the Merval point to consolidation, not a trend break.
The unusual tell is the spread. Blue traded below the official bank rate, while financial dollars stayed higher. MEP was around 1,472.36 and CCL around 1,505.28.
November inflation printed 2.5%. The Treasury then placed ARS 21.27 trillion in a peso auction, rolling over about 102% of maturities.
It also sold a $1 billion local-law dollar bond at a 9.26% yield and a 6.5% coupon. Puente’s research team called the result “very positive,” while noting the premium paid.
In spot FX, Nicolás Merino at ABC Mercado de Cambios said the wholesale dollar stayed in a narrow 1,435–1,444 band, and traded about $387 million.
In futures, A3 Mercados showed a rebound after eight down sessions, with about $457.9 million in turnover and end-December near 1,452.5.
Equities failed to follow. The S&P Merval ended near 2,979,065, while dollar bonds rose about 0.5% and country risk eased to 624. Rava said the Merval in dollars remains pinned near $2,000 on low volumes and reforms still pending.
MegaQM said the equity tape is still driven by volatile local and global mood. In New York, Argentine ADRs fell as much as 2.7%, led by Banco Macro. ARGT closed at $90.44 on 219,704 shares, while YPF ended at $35.03.
Technically, USD/ARS is compressed. The 4-hour chart is range-bound near 1,435–1,443, with mid-50s RSI and flat momentum. The daily chart keeps higher lows, but lacks thrust.
The Merval shows the same profile: choppy 4-hour action between roughly 2.95 and 3.04 million, and a daily chart digesting the early-November jump.
Five-session winners into Friday were Transener (+6.02%), Loma Negra (+4.03%), Cresud (+3.57%), TGN (+1.61%), and TGS (+1.10%). Laggards were Aluar (-10.23%), Comercial del Plata (-10.03%), Edenor (-7.43%), Metrogas (-6.90%), and Telecom (-6.81%).
The global backdrop helped at the margin. The dollar index hovered near 98.4, and lower yields supported gold overnight.
Live Market IntelligenceArgentina — Live Market Board
Rio Times · Live Market Intelligence
Argentina — Live Market Board
+0.00%
166,334.86
-0.27%
63,933.69
-0.50%
11,186.57
+0.34%
2,891,651
+0.00%
2,461.23
+0.36%
58,401.58
-1.35%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| MERVAL | 2,891,651 | +0.00% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| YPF | 7,810 | +0.26% | +72.84% | 7,790 | 7,850 | 7,600 | 1,763,858 |
| GGAL | 6,980 | -0.78% | +1.82% | 7,035 | 7,115 | 6,920 | 1,564,062 |
| PAMPA | 5,115 | +0.69% | +26.70% | 5,080 | 5,140 | 5,000 | 721,190 |
| TXAR | 747.50 | -2.35% | +18.67% | 765.50 | 770.00 | 742.50 | 771,892 |
| ALUAR | 938.00 | -1.21% | +29.83% | 949.50 | 951.00 | 932.50 | 135,426 |
| TGS | 8,870 | -0.17% | +15.05% | 8,885 | 9,075 | 8,720 | 143,546 |
| CEPU | 2,156 | +1.84% | +28.36% | 2,117 | 2,165 | 2,086 | 404,146 |
| MIRGOR | 1,650 | -1.20% | -92.90% | 1,670 | 1,670 | 1,635 | 20,877 |
| COME | 40.93 | -0.73% | -30.47% | 41.23 | 41.60 | 40.50 | 4,258,884 |
| LOMA NEGRA | 3,130 | +0.08% | +5.80% | 3,128 | 3,205 | 3,090 | 182,992 |
| BYMA | 275.00 | -1.70% | +35.14% | 279.75 | 282.50 | 272.00 | 1,409,575 |
| TELECOM ARG | 4,233 | -0.70% | +55.19% | 4,263 | 4,335 | 4,160 | 31,896 |
| GLOBANT | 38.10 | -2.26% | -49.65% | 38.98 | 38.70 | 36.77 | 793,552 |
| MERCADOLIBRE | 1,870 | -3.59% | -20.71% | 1,940 | 1,927 | 1,870 | 329,640 |
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