Argentina’s foreign reserves are at nine-year lows. Prices on the country’s commodity exports are down. The budget deficit is at its widest in three decades. Inflation is running at an annual pace of over 20%. Still, this is South America’s third-largest economy and home to abundant natural resources, levering the country to the rebounding commodities trade.
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Oxford Economics projects gross domestic product could contract over the next two years before returning to growth of more than 5% by 2019.
ARGT “is trading within a defined uptrend and many traders will likely maintain their bullish outlook until the price closes below the support of the 200d-day moving average, which is trading near $20,” adds Investopedia.
Global X MSCI Argentina ETF
