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Financial News: ARGENTINA: Merval Falls Slightly In Volatile Session

ARGENTINA: Merval Falls Slightly In Volatile Session

01/22/2018 - 20:28:00 (RTTNews)

(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, ended Monday's volatile session with a slight decrease of 0.10% at 33,558.08 points, while investors wait for the monetary policy decision by the country's central bank, expected Tuesday.

"It will be key to monitor trading supports located at 32,300-31,600 points, or between 31,200-31,075, while those ranges manage to sustain Merval cuts. We can speculate with subsequent increases to 36,200-37,300 for the first months of 2018, delimited by a long-term curve back from the crisis of 2001-2002," said analysts of Personal Portfolio.

The locally traded U.S. dollar climbed 0.79%, closing at 19.14 Argentinean pesos as investors wait for the monetary policy decision.

"The demand for dollars was once again highlighted today, prompting a rise in the exchange rate that at times brought it closer to historic highs," said Gustavo Quintana, an analyst at PR Corredores.

Besides the central bank's decision on monetary policy, several indicators are expected for this week. Tomorrow, the December trade balance will be known, while on Wednesday, the Monthly Economic Activity Estimator (EMAE) for December will be released.

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