Argentina’s Peso Trades Quietly as Parallel Gap Narrows, Stocks Add Another Leg Up

Key Points

• USD/ARS held near 1,429 on ICE, while short-term signals stayed deeply oversold.
• The official sell rate sat near 1,450 and the blue near 1,495, keeping the gap just above 3%.
• The Merval held above 3.06 million, led by Telecom and Central Puerto.

Argentina’s peso opened Friday with less drama than headlines suggest. On TradingView’s ICE feed, USD/ARS sat at 1,429 around 07:45 UTC. The week’s drop is now pausing.

Technicals show a market trying to stop falling, not yet turning higher. The 4-hour RSI hovered near 28. Daily RSI was near 37. MACD stayed negative, but the histogram turned slightly positive. That mix often marks fading selling pressure.

Key levels are tight. Support sits around 1,428–1,423. Resistance clusters near 1,431–1,436, then 1,445–1,448. A clean break above 1,436 would hint at a short-term turn. A break below 1,423 would reopen the downside.

Local FX pricing reinforced the orderly theme. The official rate showed 1,450 for selling. The blue market was near 1,495. That leaves a premium of roughly 3.1%.

MEP was around 1,458.81, while CCL sat near 1,504.11. A narrow spread matters because it limits panic pricing for imports and helps cap inflation expectations.

Global conditions helped. The dollar index closed near 98.38 on Thursday, after earlier swings tied to trade headlines. A calmer dollar reduced pressure on Argentina’s bands.

Equities stayed bid. The S&P Merval sat around 3,066,435. Momentum improved across timeframes. The 4-hour RSI climbed near 57, while weekly RSI held above 60. MACD also improved, consistent with a rebound phase.

Turnover concentrated in liquid names. Galicia and YPF dominated traded value, followed by Macro. That mix signals investors still want size and exit routes.

Top winners: Telecom Argentina, Telecom dollar line, Central Puerto dollar line, BBVA dollar line, Central Puerto.

Top losers: Transportadora Gas del Norte, Transener, Loma Negra, Comercial del Plata, Banco Macro.

Offshore sentiment stayed supportive. ARGT traded near 97.17, close to recent highs. Verified daily fund flows were not available in major free feeds by early morning.

The message is simple. Predictable rules get rewarded. Improvised controls usually widen the spread fast.

Related coverage: Brazil’s Morning Call | Argentina Cuts Export Taxes, Floods Wheat Market, And Forces This is part of The Rio Times’ daily coverage of Argentina affairs and Latin American financial news.