On Tuesday, June 23 the country risk rebounded to 433 points and the official and blue dollar reached their highest values since January. International stock markets fell and Argentine shares on Wall Street traded lower.
The country risk indicator touched eight-year lows before closing at 433 points. Both the blue dollar and the official dollar reached their highest levels since January while the main stock markets around the world fell.
Analyst Leonel Búccolo of Rava Bursátil explained that the correction responds mainly to global factors. He noted that the market is watching the evolution of United States interest rates and the performance of the technology sector.
Búccolo said the disappointment over the lack of changes in Argentina's rating by MSCI cooled expectations. He recalled that much of the recent recovery had been driven by rumors of reclassification that did not materialize.
Regarding the dollar, the specialist considered that the current rise looks moderate compared to accumulated inflation. He added that the end of grain liquidation could reduce reserve accumulation in the second half of the year.
