# Wall Street cheers after Argentina's populist ex-president loses vote

> Argentina's peso rallied 3.2% on Monday, its best gain of the year, after former president Cristina Fernandez de Kirchner lost a vote. The MERVAL stock index rose 3.6% after the open. Investors read the result as easing the threat to President Macri's reform agenda.

- Date: 2017-08-14 · published 2017-08-14T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/69745-wall-street-cheers-after-argentina-s-populist-ex-president-loses-vote
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

A stronger peso and better sentiment reduce the chance of a sharp Argentine devaluation, which would otherwise make Argentine soymeal and corn cheaper on world markets. The move is a currency event with little direct effect on feed prices.

## Read by commodity

- USDARS: bearish ▼

## Sources

- money.cnn.com: https://money.cnn.com/2017/08/14/news/economy/argentina-election/index.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.