Argentina Macro Daily(Beta Mode)
Merval Dips as Commodities Weaken
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,642,584.25 | -1.96% |
| USD/ARS | 1,396.50 | +0.07% |
| YPF | 38.25 | -0.03% |
| MercadoLibre | 1,670.00 | -0.60% |
| Globant | 44.95 | -0.62% |
| Soybeans | 1,198.75 | -1.01% |
| Gold | 4,994.00 | -1.16% |
| Bitcoin | 73,112.62 | +0.44% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Argentina FX Reserves | Type: macro_line | Reserves mln USD: 3.481e+04 (2026-01-01) | Range: 1.748e+04–4.257e+04 | Trend(6pt): 3.676e+04,3.915e+04,2.401e+04,2.319e+04,3.233e+04,3.481e+04
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Merval index fell 1.96% to 2,642,584.25 amid global volatility and profit-taking.
- USD/ARS rose 0.07% to 1,396.50, showing stability under the crawling peg.
- Commodities like soybeans and gold declined, pressuring export revenues.
Yesterday's Recap
Argentine markets closed lower on March 15, with the Merval index dropping 1.96% to 2,642,584.25, influenced by emerging market weakness and commodity price declines. The USD/ARS official rate increased 0.07% to 1,396.50, reflecting controlled dynamics under the BCRA's crawling peg, with parallel rates stable. YPF shares edged down 0.03% to 38.25, despite Vaca Muerta potential, as oil markets softened.
MercadoLibre and Globant fell 0.60% to 1,670.00 and 0.62% to 44.95, respectively, tracking tech sector pressures. Soybeans decreased 1.01% to 1,198.75, impacting agro-exports, while gold dropped 1.16% to 4,994.00, diminishing reserve appeal. Bitcoin rose 0.44% to 73,112.62, providing some offset.
No economic data was released, but markets responded to fiscal concerns and global uncertainty, including the cancelled Spain-Argentina Finalissima due to Middle East conflict.
The Day Ahead
March 16 has no scheduled economic releases or events in Argentina, per calendar data. Focus will be on global sentiment, especially US inflation indicators, which could affect Argentine bonds and stocks via spillover. Traders will watch BCRA reserve trends amid export inflows.
Updates on Vaca Muerta energy projects may influence energy equities. Parallel peso movements could signal capital control shifts. Expect subdued trading unless commodity or oil volatility arises from external factors.
Other Economic Notes
Buenos Aires province has seen severe industrial decline, with 5,800 companies closing during the Milei era, accounting for nearly 30% of national closures. This affects multiple sectors, raising unemployment concerns amid austerity measures. Investors are employing "HALO" strategies amid black swan risks, reviving fears of political instability from the "old caste." Political tensions include reported government unease with former spokesperson Manuel Adorni, impacting Cabinet dynamics and the Milei siblings' cultural agenda.
