Argentina Macro Daily(Beta Mode)
Merval Rises, Peso Depreciates
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,793,847.00 | +0.88% |
| USD/ARS | 1,384.00 | +1.17% |
| YPF | 45.17 | +3.41% |
| MercadoLibre | 1,599.52 | -1.93% |
| Globant | 44.52 | -1.83% |
| Soybeans | 1,165.00 | +0.50% |
| Gold | 4,565.70 | +1.64% |
| Bitcoin | 67,568.45 | +2.45% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Oil Price | Type: macro_line | USD per Barrel: 103.8 (2026-03-23) | Range: 59.93–133.2 | Trend(6pt): 63.52,120.8,97.1,73.19,118.4,103.8
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Merval index climbed 0.88% to 2,793,847.00, led by energy gains, while USD/ARS rose 1.17% to 1,384.00 amid parallel pressures.
- YPF advanced 3.41% to 45.17 on Vaca Muerta production hopes, offsetting tech declines like MercadoLibre's 1.93% drop to 1,599.52.
- Commodities varied: soybeans gained 0.50% to 1,165.00, gold surged 1.64% to 4,565.70, bolstering export outlook.
Yesterday's Recap
Argentine markets displayed mixed performance yesterday, with the Merval index ending at 2,793,847.00, up 0.88%, supported by strength in energy and commodity-related equities. YPF stood out with a 3.41% gain to 45.17, driven by positive sentiment around Vaca Muerta shale output expansion and potential export growth. However, technology stocks lagged, as MercadoLibre declined 1.93% to 1,599.52 and Globant fell 1.83% to 44.52, amid broader shifts away from growth sectors.
The USD/ARS rate increased 1.17% to 1,384.00, showing controlled weakening under the crawling peg, with parallel markets experiencing demand from imports. No significant economic data was released, though earlier January industrial production data (+4.2% YoY) sustained optimism in manufacturing. Sovereign bond spreads tightened modestly, reflecting trust in fiscal progress.
The session underscored Argentina's dependence on commodities and adherence to IMF-supported stability measures.
The Day Ahead
With no economic data slated for today, focus shifts to ongoing peso trends and stock movements. Markets may watch for BCRA actions to uphold the 2% monthly crawling peg, particularly if parallel premiums intensify. Unscheduled updates on reserves could emerge, given upcoming IMF assessments.
Energy sector news, including Vaca Muerta advancements, might affect YPF and related stocks. Commodity fluctuations in soybeans and gold could influence trade balances. Volatility is expected to remain subdued absent surprise policy statements from authorities.
Other Economic Notes
Argentina's fiscal reforms under President Milei continue to emphasize deficit reduction, with congressional progress on subsidy reductions aiming for sustainability. Price control deregulation has aided CPI declines, promoting disinflation and IMF compliance. Vaca Muerta's output reaching 450,000 bpd supports energy exports and reserve accumulation, vital for economic resilience.
Global Macro News
Escalating global tensions from the Iran conflict are pushing oil prices higher, which could aid Argentina's Vaca Muerta exports but introduce imported inflation via elevated energy expenses. (cont...)
