Macri's counter offensive move, in response to Cristina Kirchner's presidential formula strategy was a brilliant one, picking Pichetto as his Vice-President for the upcoming October elections. Pichetto is a man from the Peronist party, but who is not afraid of bipartisan politics in Congress, and who wants to work for the President in Congress, and not force government shutdown. Many dislike this trait of his, but him being a strong defender of small and medium enterprises, and most likely helping Macri lead the country towards proper capitalism, with some luck, is what got investors bullish again.
The $USDARS pair dropped rapidly, and the 2-Week timeframe uptrend signal I had forecasted in it failed. The Dollar didn't hit 49-50 in time, despite the Central Banks pathetic actions in the last year, and Macri's political antics might have turned the trend in it for the next 16-19 weeks. $USDARS might sink towards 37 again, if things go really well.
If Cristina were to win, Alberto Fernandez is a man who might keep her extreme pseudo-socialist ways in check, or at least this is what investors seem to think, given the reaction of markets to the formula. Hopefully, whoever wins, stops the ridiculous spending, and insane taxing, which is choking anyone trying to build ANY kind of business here...since small and medium sized enterprises are the main sources of jobs in the country atm. This might help the currency do better, and reduce inflation. For this, government needs to reduce its size, which is not too likely to occur if Peronists win this time around, but also not extremely likely to occur if Macri is elected again, either.
My reccomendation is to not own too many Argentinian assets, overall, but I'm slightly optimistic going forward.
Best of luck to us all,
Ivan Labrie.
The $USDARS pair dropped rapidly, and the 2-Week timeframe uptrend signal I had forecasted in it failed. The Dollar didn't hit 49-50 in time, despite the Central Banks pathetic actions in the last year, and Macri's political antics might have turned the trend in it for the next 16-19 weeks. $USDARS might sink towards 37 again, if things go really well.
If Cristina were to win, Alberto Fernandez is a man who might keep her extreme pseudo-socialist ways in check, or at least this is what investors seem to think, given the reaction of markets to the formula. Hopefully, whoever wins, stops the ridiculous spending, and insane taxing, which is choking anyone trying to build ANY kind of business here...since small and medium sized enterprises are the main sources of jobs in the country atm. This might help the currency do better, and reduce inflation. For this, government needs to reduce its size, which is not too likely to occur if Peronists win this time around, but also not extremely likely to occur if Macri is elected again, either.
My reccomendation is to not own too many Argentinian assets, overall, but I'm slightly optimistic going forward.
Best of luck to us all,
Ivan Labrie.
Comment:
Comment:
This looks about right:
