Argentina's Managed Calm: Peso Held At 1,380 As Gaps Widen And Stocks Struggle

(MENAFN- The Rio Times) Buenos Aires opened to a quiet, carefully managed market. The wholesale dollar stayed pinned near 1,380 pesos after heavy official selling late Tuesday.

Street“blue” quotes hovered around 1,445-only slightly above bank screens-while market-based rates that investors actually use to hedge remained higher (MEP near 1,495; CCL roughly 1,540).

The message is simple: cash demand looks contained, but professionals still doubt the anchor can hold without support. Global conditions helped a touch. The U.S. Dollar Index eased overnight, taking a little pressure off emerging-market currencies.

But local forces set the tone. Political noise increased as ruling-coalition lawmaker José Luis Espert faced new scrutiny over alleged illicit campaign financing, just as Congress begins debating the 2026 budget.

That backdrop, together with tighter rules that slow switching between the official and financial FX markets, kept risk appetite thin. Stocks reflected the tension. The S&P Merval slipped about 1.1% in the prior session to roughly 1.77 million.



On daily charts the index sits below short-term moving averages, with momentum stabilizing from weak levels.

The 4-hour view shows selling pressure fading and a tentative base forming, but confirmation requires steadier policy signals and narrower FX premia that don't rely on large official offers.

In FX, the 4-hour USD/ARS chart shows tightening Bollinger Bands, an improving MACD, and an RSI near 60-often a“coiled spring.”

On the daily chart, holding the 1,380 area keeps a mild bullish bias for the dollar; a close above the 20-day average points to another test higher, while losing the 1.35–1.36 zone would undermine that view.


Top 5 Winners (last local session)
1. Cresud
2. Pampa Energía
3. Telecom Argentina
4. Aluar
5. Transportadora de Gas del Sur
Top 5 Losers (last local session)
1. Transportadora de Gas del Norte
2. Metrogas
3. Grupo Supervielle
4. BBVA Argentina
5. Grupo Financiero Galicia

Bottom line: today's calm is real but managed. A narrow blue-to-official gap masks deeper caution visible in MEP and CCL, equities, and credit.

For a durable rebound, investors want proof the FX anchor can hold with less intervention-and clearer politics as budget season begins.

MENAFN01102025007421016031ID1110134707