Argentina Macro Daily(Beta Mode)
Argentina Holds Gas Prices Steady
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,999,342.00 | +0.05% |
| USD/ARS | 1,386.07 | -0.41% |
| YPF | 46.22 | +0.22% |
| MercadoLibre | 1,729.02 | +6.78% |
| Globant | 46.11 | +0.94% |
| Soybeans | 1,163.50 | -0.43% |
| Gold | 4,651.50 | -2.75% |
| Bitcoin | 66,981.89 | +0.14% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
WTI Crude Oil Prices | Type: macro_line | WTI Price USD: 104.7 (2026-03-30) | Range: 55.44–123.6 | Trend(6pt): 58.73,111.7,89.68,70.87,101.3,104.7
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- YPF maintains gas prices for 45 days, marking a shift from Milei's free-market policies amid inflation pressures.
- MERVAL rises 0.05% on mixed trading; USD/ARS falls 0.41% under stable crawling peg.
- Diplomatic actions include expelling Iran's charge d'affaires and adding visa-free access for Germany and others to boost tourism.
Yesterday's Recap
Argentine markets displayed modest movements, with the MERVAL index closing at 2,999,342.00, up 0.05%, supported by gains in select energy and tech sectors. YPF shares increased 0.22% to 46.22, buoyed by announcements that the state-run firm will hold gas prices steady for 45 days, offering consumer relief in a high-inflation environment. MercadoLibre advanced 6.78% to 1,729.02, benefiting from positive global tech sentiment, while Globant rose 0.94% to 46.11.
The USD/ARS official rate declined 0.41% to 1,386.07, reflecting managed depreciation via the crawling peg. Soybean prices decreased 0.43% to 1,163.50, adding pressure on export earnings, and gold dropped 2.75% to 4,651.50 amid commodity softness. Bitcoin edged up 0.14% to 66,981.89 on mild risk appetite.
No significant economic data was released, but market mood lifted on news of expanded visa-free travel to Argentina for over 100 countries, including Germany, potentially enhancing tourism revenues. Trading remained calm, with no notable volatility, consistent with fiscal stability efforts.
The Day Ahead
The calendar shows no scheduled economic releases or events today, providing space for markets to absorb recent policy and diplomatic updates. Focus may turn to any informal BCRA announcements on reserves, though none are confirmed. Traders will watch parallel exchange rates for reactions to the official peso's recent firmness.
Commodity trends, especially in soybeans and energy, will be key given Argentina's export dependence. IMF-related sentiment could linger, but no meetings are planned. Anticipate subdued activity unless external global news influences equities or sovereign bonds.
Other Economic Notes
Argentina's move to freeze gas prices highlights a practical adjustment in Milei's deregulation strategy, prioritizing social calm over rapid market reforms amid persistent inflation. The expansion of visa-free entry to more than 100 countries, now including Germany alongside Brazil, Mexico, Spain, Italy, and the US, targets tourism growth to bolster foreign exchange inflows. Provincial governors in areas like Catamarca, Córdoba, Jujuy, and Tucumán are implementing spending cuts due to lower federal revenue sharing, while engaging in legislative negotiations with the Milei administration to address fiscal strains.
