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Economist Domingo Cavallo's forecast says Argentina's first-quarter 2019 economy performed worse than expected, with inflation well above forecasts. Since March the peso has depreciated rapidly toward the upper limit of the non-intervention zone, and residents are increasingly dollarizing their assets.
The forecast assumes the IMF will allow unlimited reserves for intervention so the rate stays below 51.4 pesos per dollar.
A deep recession and possible currency crisis can cut domestic demand for feed and livestock products and weaken exporter selling behavior. The forecast points to ongoing macro risk for Argentine agricultural trade.
globalsourcepartners.comDomingo CavalloApr 29, 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.
