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Argentine President-elect Alberto Fernández is reportedly preparing to task the Central Bank with actively curbing peso appreciation to weaken the currency. The plan would use the central bank's lack of legal independence from the government.
Fernández takes office December 10.
A deliberately weaker peso would lift Argentina's export competitiveness for soymeal and corn, potentially increasing Argentine export supply and pressuring international meal prices.
batimes.com.arCarly GrafNov 18, 2019After 222 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.1% to +1.2%), and -0.6% over 20.
After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
Not 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.
