Argentina’s Peso Tightens the Blue Gap as Stocks Surge and the Dollar Slides Globally
Key Points
- USD/ARS held near 1,442.5 per $1 ($1) on the reference feed, with the blue premium still modest.
- Global FX drove the mood as the dollar index sank toward multi-year lows after fresh political signals.
- Charts showed USD/ARS turning short-term overbought, while the Merval extended a strong upswing.
Argentina opened January 28 with the peso steady on the screen and the parallel market still unusually contained. On the widely watched reference feed in your charts, USD/ARS traded near 1,442.5 per $1 ($1) around 08:26 UTC.
Local boards put Banco Nación’s retail sell rate at 1,465 per $1 ($1), while the blue sold near 1,490 per $1 ($1). That gap implies about a 1.7% premium versus retail, which stays tight by local standards.
The split between “official” and “street” prices remains the daily stress test. A small premium usually means fewer forced buyers in cash dollars.
It also hints that the current rules still have teeth. This morning, the parallel market looked more like a pressure valve than a panic gauge.
Alternative rails kept the more important signal. MEP traded near 1,463 per $1 ($1). CCL sat near 1,511 per $1 ($1).
The market was still saying offshore hedging costs more than local hedging, even as the overall gap stayed manageable. The official wholesale lane was also near the upper edge of the crawling band.
Global headlines added a second driver. The U.S. dollar slid sharply after President Trump played down the weakness, with traders treating it as a green light to sell.
The dollar index hovered near 96 after briefly touching around 95.6. The euro pushed above $1.20. Gold traded above $5,200. U.S. 10-year yields held near 4.23%. Intervention chatter around the yen amplified the move.
Technicals reinforced the near-term story. On the 4-hour USD/ARS chart, RSI jumped to about 70.9, which reads overbought. Daily RSI sat near 48.9, suggesting consolidation rather than a clean breakout.
Weekly RSI near 58.1 kept the broader trend intact. On your levels, 1,447.9 per $1 ($1) and 1,450.0 per $1 ($1) were the next resistance markers.
Equities were the louder signal. The S&P Merval last printed near 3,244,319.97 points (about $2,249). That was roughly a 3.6% jump on the session. Daily RSI rose to about 67.7, with weekly RSI near 66.6. That is strong momentum, but also more extended.
Top 5 Winners
- CRES (Cresud): +9.84%
- EDN (Edenor): +6.58%
- BBAR (BBVA Argentina): +6.09%
- BMA (Banco Macro): +5.51%
- COME (Comercial del Plata): +5.45%
Top 5 Losers
- ALUA (Aluar): -4.07%
- TXAR (Ternium Argentina): -1.98%
- VALO (Banco de Valores): +0.81% (weakest gainer group)
- BYMA (BYMA): +1.68% (weakest gainer group)
- LOMA (Loma Negra): +2.00% (weakest gainer group)
A key local subplot was financing. Analysts focused on the Treasury’s final January peso auction and the need for a high rollover. One widely cited estimate put maturities near AR$9.4 trillion (about $6.5 billion).
Reported Treasury cash at the central bank was around AR$2.3 trillion (about $1.6 billion). The broader bet was that calmer rates and liquidity keep the rally alive.
Related coverage: Brazil’s Morning Call | Revolut Enters Mexico With 15% Yield, Forcing A Rethink On F This is part of The Rio Times’ daily coverage of Argentina affairs and Latin American financial news.
Live Market IntelligenceArgentina — Live Market Board
Rio Times · Live Market Intelligence
Argentina — Live Market Board
-0.72%
175,664.62
+0.30%
65,484.32
-0.53%
11,445.90
-0.22%
2,979,472
-0.72%
2,457.87
-1.28%
60,779.49
-1.40%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| MERVAL | 2,979,472 | -0.72% | +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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