The Atlanta United midfielder has been identified as a potential target ahead of January's transfer window.
Rafa Benitez, looking for a No 10, was coy when asked about the club's interest in Almiron last week.
“We’re watching everything,” said Newcastle’s manager. “America, South America, Asia – everything. We have a player from Japan, another from South Korea, so we know we can find players everywhere.
“You have to look for the players that you want – and then analyse who we can, or cannot, sign.”
The Gazette understands that United have registered their interest with Atlanta.
However, Arsenal, Tottenham Hotspur and West Ham United are also reportedly tracking the 24-year-old, who impressed in Sunday's 3-0 MLS Cup win over New York Red Bulls.
And reports in the USA claim that Almiron is valued in the Â£25million bracket by the club.
Newcastle's record fee is the Â£16million the club paid for striker Michael Owen in 2005, and many fans question whether it will be broken as long as Mike Ashley is owner.
Benitez had to sell to buy in the summer after refusing to sign a new deal at St James's Park before discussing transfer funds.