Argentina Macro Daily(Beta Mode)
Argentina Greenlights Glacier Mining
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,999,608.00 | -0.38% |
| USD/ARS | 1,381.00 | -0.43% |
| YPF | 42.69 | -1.82% |
| MercadoLibre | 1,793.21 | +0.98% |
| Globant | 45.30 | -1.11% |
| Soybeans | 1,171.75 | +0.56% |
| Gold | 4,761.90 | -0.63% |
| Bitcoin | 71,679.34 | -0.12% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Soybean Prices USD/MT | Type: macro_line | Soybean Price: 7.17 (2026-02-01) | Range: -29.07–86.52 | Trend(6pt): 86.52,9.059,-9.376,-26.06,1.426,7.17
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Congress passes Milei's glacier bill, easing mining in Andes despite protests, boosting sector prospects.
- World Bank praises Argentina as LatAm growth outlier amid regional stagnation, crediting fiscal reforms.
- Markets edge lower with MERVAL down 0.38% and USD/ARS off 0.43%, as global tensions curb sentiment.
Yesterday's Recap
Argentine markets ended modestly lower on April 9, with the MERVAL index slipping 0.38% to 2,999,608 amid low volumes and no key data. The USD/ARS official rate declined 0.43% to 1,381, indicating stable BCRA oversight and parallel market calm. YPF shares fell 1.82% to 42.69, hit by commodity swings, while MercadoLibre rose 0.98% to 1,793.21 on e-commerce strength.
Globant dropped 1.11% to 45.30, mirroring tech softness. Soybeans gained 0.56% to 1,171.75, aiding agro exports, but gold dipped 0.63% to 4,761.90 and Bitcoin eased 0.12% to 71,679.34. Legislative focus centered on the glacier bill approval, which modestly supported mining stocks despite environmental outcry.
The Day Ahead
April 10 offers a sparse calendar with no planned economic releases or events in Argentina, giving markets time to absorb legislative shifts and international headlines. Eyes may be on possible unscheduled BCRA notes on reserves or FX moves, though unconfirmed. Parallel peso trends could reflect mining bill unrest.
Sentiment may hinge on global commodity shifts, especially soybeans and gold. Absent catalysts, expect subdued volatility unless surprise policy news surfaces.
Other Economic Notes
Milei's fiscal reforms earn World Bank acclaim as Argentina stands out positively in stagnant LatAm, contrasting Brazil's woes. Mining gains traction with the glacier bill enabling provincial projects in icy Andes zones. Aldebaran Resources reports robust drill results at Altar copper-gold project in San Juan, including 936m at 0.66% CuEq, signaling export potential.
Fortuna Mining announces Q1 output of 72,872 gold equivalent ounces, underscoring sector vitality. These developments align with efforts to bolster revenues and IMF ties amid ongoing deregulation.
Global Macro News
IMF flags lasting economic damage from Iran conflict, predicting slower global growth and elevated energy costs that could strain Argentina's commodity exports. US faces inflation surge and stagflation risks, potentially curbing EM inflows. (cont...)
