The dollar rose again and reached $1,465, the highest level in four months

The note is given by the dollar, which once again shows a slight rise. Thus, it advances five pesos and ends in $ 1.465 at Banco Nación. So far in June it has increased 2.5% and reaches highest level since February 2.

This month The dollar has been showing slight increases, driven by the demand of savers after the collection of salaries and by wholesale purchases that seek to cover themselves against the perception that the exchange rate is “cheap.”

The bonds appear stable, allowing the country risk to drop 1% to the 494 basis points.

Regarding actions the Merval improves 1%, with almost the entire central panel in green. The same trend can be seen in the Argentine ADRs listed on Wall Street, which they move mostly upwards. The most notable is Tenaris with an increase of 2.8% and the most affected Corporación América with a decrease of 0.7%.

This is a reflection of the improved climate on Wall Street with a 2% rise in the Nasdaq index after the 4.8% collapse it suffered last Friday, amid the disarray of technology stocks, which fell because the latest data on the North American economy show an increase in employment that supports the stabilization of the economy and reduces the chances of the Federal Reserve lowering reference rates.

With stable or rising rates Financing and expansion options are complicated for the main companies in the technology sector.

From Portfolio Personal Inversiones (PPI) they point out that this week the attention of the local market will be focused on of the fronts. On the one hand, on Wednesday there will be the first Treasury tender of June, in which some win $5.3 billionalmost entirely in private hands. This afternoon, Finance will publish the menu with which it will seek to confront them.

On the other hand, On Thursday the Consumer Price Index (CPI) for May will be known, for which a record of around 2.3% is expected. CABA inflation was 2.1%, the second consecutive drop in the index.

The other key to monitor will be the behavior of the Central Bank, not only in daily purchases but also in other types of interventions in the market. For example, last week, when the dollar began to rise, the monetary authority intervened in both the dollar link segment and futures. Added to this was that the pace of purchases was significantly lower: It went from an average of US$85 million per day to US$46 million.