CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ARGENTINA: BBVA Note Lower CPI / Reform Bill Help to Bolster ARS

ARGENTINA
  • BBVA have commented that Argentina's FX strategy still has no evident endgame, however, local markets and the ARS parallel reference at least received some better news from the easing of prices and approval of a major reform bill. 
  • May inflation slowed to its lowest level since early 2022, and was below the median economist estimate. The lower price print marks another positive development for President Milei this week after he was able to pass major economic reforms through the Senate in a pivotal vote. 
  • The Argentine authorities also announced the renewal of a portion of its currency swap line with China and will now visit the IMF in the hope of expanding its programme. 
  • On the FX front, BBVA note the developments have helped to cool the parallel rate from recent all-time highs, although more clarity on the path ahead is still needed, and the real appreciation continues to increase adjustment risks in the midterm.
BulletEM Bullet
BulletEM Bullet

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.