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The Argentine peso weakened toward 46 per US dollar on May 6, 2019, after losing nearly nine percent the previous week following a poll that suggested President Macri could lose October's runoff. Global markets fell after Trump threatened to raise tariffs on $200 billion of Chinese goods, and the yuan dropped about 1.3% at one point, its steepest fall in more than three years.
Trade-war risk is pushing emerging-market currencies lower against the dollar, and a weaker peso raises the local cost of imported feed inputs for Argentina while reducing export competitiveness for its soymeal and corn sales.
batimes.com.arKat Van SligtenhorstMay 6, 2019Not 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.
