Argentina Macro Daily(Beta Mode)
Milei Hails Fiscal Progress
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,999,342.00 | +0.05% |
| USD/ARS | 1,386.25 | +0.01% |
| YPF | 46.22 | +0.22% |
| MercadoLibre | 1,729.02 | +6.78% |
| Globant | 46.11 | +0.94% |
| Soybeans | 1,165.25 | +0.15% |
| Gold | 4,723.00 | +1.54% |
| Bitcoin | 69,224.27 | +0.35% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude Oil Price | Type: macro_line | Oil Price USD: 121.9 (2026-03-30) | Range: 59.93–133.2 | Trend(5pt): 61.86,110.5,89.83,76.14,121.9
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- President Milei defends fiscal adjustment, highlights poverty drop to 28% and 4.4% growth while reinforcing alliances with Trump and Netanyahu.
- MERVAL edges up 0.05% to 2,999,342.00, with USD/ARS stable at 1,386.25 (+0.01%) amid controlled currency dynamics.
- Argentina expels Iran's top diplomat after designating IRGC a terrorist group, amid geopolitical tensions.
Yesterday's Recap
Argentine markets posted modest gains, with the MERVAL index up 0.05% to 2,999,342.00, supported by stability in core assets and fiscal optimism. USD/ARS remained steady at 1,386.25 with a slight 0.01% rise, underscoring effective BCRA oversight of the crawling peg. YPF rose 0.22% to 46.22, bolstered by energy sector momentum, while MercadoLibre jumped 6.78% to 1,729.02 on global tech strength.
Globant advanced 0.94% to 46.11, signaling confidence in Argentine tech firms. Soybeans increased 0.15% to 1,165.25, supporting export revenues vital for reserves. No significant data releases took place, but Milei's interview emphasizing fiscal reforms and poverty reduction lifted sentiment.
Markets reflected ongoing IMF program adherence without notable volatility.
The Day Ahead
No economic releases or events are scheduled for Argentina today, shifting attention to fiscal negotiations. Investors will watch for updates on governors' discussions with Milei regarding coparticipation revenue declines, which may impact provincial budgets and national surplus objectives. Geopolitical fallout from the IRGC designation could influence sovereign bond risk premiums.
BCRA may step into FX markets if parallel rates diverge, affecting USD/ARS stability. Trading is expected to be subdued unless unexpected administration statements arise.
Other Economic Notes
Governors in Catamarca, Córdoba, Jujuy, and Tucumán are enforcing sharp spending cuts due to reduced coparticipation funds, navigating fiscal pressures while engaging in talks with Milei for federal aid. This highlights strains between national austerity and regional needs, potentially challenging IMF-required surplus goals. The Washington Post commended Milei's policies, noting poverty fell to 28% by late 2025 from a 53% peak earlier that year, alongside 4.4% growth.
Broader reforms persist, with sectors like agriculture and mining poised for deregulation to attract foreign investment and enhance exports.
