Argentina Macro Daily(Beta Mode)
Milei Labels IRGC Terrorist, ARS Weakens
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,999,342.00 | +0.05% |
| USD/ARS | 1,391.00 | +0.62% |
| YPF | 46.22 | +0.22% |
| MercadoLibre | 1,729.02 | +6.78% |
| Globant | 46.11 | +0.94% |
| Soybeans | 1,173.50 | +0.43% |
| Gold | 4,648.40 | -2.82% |
| Bitcoin | 66,353.02 | -2.53% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
USD/ARS FX Pair | Type: market_hloc | ARS per USD: 1391 (2026-04-02) | Range: 1368–1475 | Trend(5pt): 1450,1434,1399,1399,1391
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Argentina designates Iran's IRGC as a terrorist organization, signaling Milei's hardline foreign policy amid global tensions.
- MERVAL edges up 0.05% amid mixed equity moves, with MercadoLibre surging 6.78% on e-commerce strength.
- USD/ARS climbs 0.62% under crawling peg pressure, while commodities show volatility with gold down 2.82%.
Yesterday's Recap
No major economic data releases occurred in Argentina on April 1, leaving markets to digest geopolitical developments and global cues. The MERVAL index closed at 2,999,342, up a modest 0.05%, supported by gains in tech and energy sectors despite broader caution. USD/ARS official rate rose 0.62% to 1,391, reflecting ongoing crawling peg adjustments and reserve management strains.
YPF shares advanced 0.22% to 46.22, buoyed by Vaca Muerta production optimism, while MercadoLibre jumped 6.78% to 1,729.02 on strong regional sales data. Globant rose 0.94% to 46.11, benefiting from IT outsourcing demand. Soybeans increased 0.43% to 1,173.50, aiding export revenues, but gold fell 2.82% to 4,648.40 amid safe-haven unwinding, pressuring Argentina's commodity-linked economy.
Bitcoin dropped 2.53% to 66,353.02, mirroring global risk aversion that tempered local carry trade enthusiasm.
The Day Ahead
No scheduled economic releases or events are on the calendar for April 2, allowing markets to focus on ongoing geopolitical and global macro developments. Traders will monitor any unscheduled BCRA interventions in FX markets, given recent peso pressures. Attention may turn to potential updates on IMF programme compliance, as reserve levels remain critical for stability.
Broader sentiment could be influenced by Vaca Muerta energy sector news, with export deals potentially impacting trade balances. Congressional discussions on fiscal reforms might emerge, affecting investor confidence in Milei's deregulation agenda. Overall, low event risk suggests volatility driven by external factors like commodity prices.
Other Economic Notes
Argentina's economy continues to grapple with high inflation and fiscal consolidation under the IMF programme, with recent surplus achievements supporting creditworthiness. Vaca Muerta shale developments are driving energy exports, projected to boost GDP growth amid global demand for alternatives to disrupted supplies. Broader themes include capital control easing, which could enhance foreign investment inflows but risks peso volatility if not managed carefully.
