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Argentina's central bank sold $302m in reserves on Tuesday, exceeding the $250m daily limit set under its IMF standby agreement. The peso closed 1.76% weaker at 56.3 per dollar.
Breaching the IMF guideline signals stress in the currency defense, which keeps the peso weak and supports Argentine export competitiveness for soybean meal.
aljazeera.comReutersAug 27, 2019Not enough comparable past events yet for a historical read.
After 117 past bearish macro events, Soybean Meal moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), and +0.5% over 20.
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.
