Economy of Argentina GDP levels in the world, at par with Canada and Australia and surpassing both France and Italy. Argentina today (2018) is plagued by currency crisis which involved a potential bailout from International Monetary Fund. The currency declined by 18% over a period of 12 days in May 2018 to more than 25 Argentine pesos per U.S. Dollar. Argentina is considered an emerging market by the FTSE Global Equity Index (2018), and is one of the G-20 major economies. Prior to the 1880s, Argentina was a relatively isolated backwater, dependent on the salted meat, wool, leather, and hide industries for both
Currency strength indexes of this kind, major currencies are usually used because they represent up to 90% of the whole forex market volume. Currency strength is calculated from the U.S. Dollar Index, which is used as a reference for other currency indexes. The basic idea behind indicators is "to buy strong currency and to sell weak currency". If is X/Y currency pair is up trend, you are able to determine whether this happens due to X's strength or Y's weakness. With indicators of this kind one is able to choose the most valuable pair to trade; see the reactions of each currency