Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
Oil Prices Surge Toward Biggest Monthly Gains in Years Amid Middle East Tensions 
Bank of Korea Expected to Hold Interest Rates as Weak Won Limits Policy Easing 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
Asia Stocks Pause as Tech Earnings, Fed Signals, and Dollar Weakness Drive Markets 
Thailand Economy Faces Competitiveness Challenges as Strong Baht and U.S. Tariffs Pressure Exports 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
BOJ Holds Interest Rates Steady, Upgrades Growth and Inflation Outlook for Japan 
Fed Confirms Rate Meeting Schedule Despite Severe Winter Storm in Washington D.C. 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
Oil Prices Hit Four-Month High as Geopolitical Risks and Supply Disruptions Intensify 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Argentina’s central bank made its largest single-day dollar sale in nearly six years on Friday, offloading $678 million to stabilize the peso amid soaring demand for U.S. currency. The intervention brings total sales over the past three sessions to $1.1 billion, highlighting mounting pressure on reserves ahead of October’s midterm elections.
Economy Minister Luis Caputo reaffirmed the government’s commitment to defending the peso, vowing to sell “every last dollar” within the official exchange-rate band. The wholesale peso held steady at 1,475 per U.S. dollar after the central bank’s action, though the informal “blue” market hit a record 1,520, sliding more than 6% during the week.
Analysts warn the pace of intervention could drain about $10 billion before the vote—around 70% of the IMF’s recent $20 billion disbursement. While official reserves stand at $39.26 billion, net liquid reserves available for intervention are estimated at just $6 billion. Such depletion could complicate near-term debt obligations and force increased bond issuance.
Caputo insisted the Treasury is preparing to cover January debt payments and will provide clarity to bondholders soon. However, investor sentiment remains fragile: Argentina’s country risk index surged to 1,500 basis points, its highest since August 2024. Over-the-counter bonds slid 9.2% this week, while Buenos Aires’ main stock index dropped 0.7% Friday.
The IMF-backed exchange rate framework is under strain as markets doubt the government’s ability to maintain stability before elections. The outcome of October’s congressional vote will determine whether President Javier Milei can push forward his reform agenda or face new political hurdles.
