Argentine Peso Lower as President Macri Beaten in Primaries

Conservative Argentine President Mauricio Macri suffered a resounding defeat in primary elections on Sunday.

The primary, in which presidential candidates from all parties take part, was won by his left-wing rival, Alberto Fernández.

Mr Macri, whose austerity measures have turned many voters against him, is hoping to win a second term in office in the presidential poll on 27 October.

But analysts say his chances of beating Mr Fernández now look very slim.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza