Argentine Peso Posts Worst Month Since Milei’s 2023 Devaluation

After 44 past bullish macro events, SBM moved a median -0.6% over 5 sessions (34% higher; middle half -1.9% to +0.9%), and -2.9% over 20.

• Jun 29, 2022Three Signs Show That Argentina Is Heading to a Devaluation - Bloomberg-1.1%
• May 21, 2018What multinationals should monitor in the aftermath of Argentina’s peso crash+1.1%
• Mar 31, 2023Argentina's dollars drain fastest since 2019 as IMF decision looms | Kitco News-0.7%
• Aug 12, 2019Argentina farmers digest primary election shock, wait to export despite weaker peso-0.6%
• Apr 11, 2021Argentine farmers, facing peso uncertainty, hoard soya despite high prices - Markets - Business Recorder-0.1%

After 28 past bullish macro events, SBO moved a median -1.2% over 5 sessions (32% higher; middle half -2.1% to +1.8%), and -2.3% over 20.

• Mar 31, 2023Argentina's dollars drain fastest since 2019 as IMF decision looms | Kitco News+2.1%
• Apr 3, 2023Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder-2.4%
• Mar 22, 2023Argentina drought saps dollar reserves, pressuring FX crawling peg-3.2%
• Apr 4, 2024Brent Oil Futures Hit $90 a Barrel for First Time Since October - Bloomberg-0.4%
• Jun 10, 2021In the eye of the storm: How the oilseeds market emerged as the global driver of agriculture markets, its role in wider food price inflation - Fastmarkets-10.5%

Not enough comparable past events yet for a historical read.