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Argentina's government has recorded twin fiscal and external surpluses for ten consecutive months, and the central bank is buying foreign currency to rebuild reserves. Economic activity paused in September, but revisions to earlier months point to stronger growth in the final quarter, and financial assets have rallied.
Inflows of dollars and reserve purchases support the peso and Argentina's capacity to finance imports, which can sustain demand for feed grains and meals from the country. The direct price impact on commodities is limited.
argengrowth.beehiiv.comArgenGrowth @NauBernuesNov 25, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
