Argentina Macro Daily(Beta Mode)
ARS Strengthens, MERVAL Dips
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,991,782.00 | -0.23% |
| USD/ARS | 1,354.50 | -2.31% |
| YPF | 43.51 | +1.30% |
| MercadoLibre | 1,831.93 | +3.27% |
| Globant | 46.63 | +7.79% |
| Soybeans | 1,165.25 | +0.26% |
| Gold | 4,805.00 | +1.32% |
| Bitcoin | 74,737.90 | +0.34% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
US Fed Funds Rate | Type: macro_line | Fed Funds %: 3.64 (2026-03-01) | Range: 0.06–5.33 | Trend(5pt): 0.06,1.68,5.33,4.64,3.64
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Peso rallied sharply against USD amid low volatility, signaling improved sentiment on reserve stability.
- MERVAL edged lower despite gains in key ADRs like Globant and MercadoLibre, reflecting mixed equity flows.
- Commodity prices firmed, with soybeans and gold supporting Argentina's export outlook amid global tensions.
Yesterday's Recap
Argentine markets experienced modest movements on April 13, with the MERVAL index declining 0.23% to close at 2,991,782.00, pressured by broader risk aversion despite no major data releases. The USD/ARS official rate fell 2.31% to 1,354.50, indicating peso strengthening possibly due to BCRA interventions stabilizing parallel markets. YPF's ADR rose 1.30% to 43.51, buoyed by steady Vaca Muerta production trends, while MercadoLibre gained 3.27% to 1,831.93 on e-commerce resilience.
Globant surged 7.79% to 46.63, driven by tech sector optimism. Soybean prices ticked up 0.26% to 1,165.25, aiding agricultural exports, though no economic indicators were released, keeping focus on currency dynamics.
The Day Ahead
April 14 brings a quiet calendar with no scheduled data releases or events in Argentina, allowing markets to digest recent global developments. Investors will monitor any unscheduled BCRA announcements on FX management amid ongoing IMF programme reviews. Attention turns to parallel peso rates for signs of arbitrage opportunities.
Broader sentiment may hinge on international commodity moves, particularly oil, given Vaca Muerta's role in energy exports. Expect low volatility unless external shocks emerge. Trading volumes could remain subdued without catalysts.
Other Economic Notes
Broader themes in Argentina center on fiscal consolidation under the IMF programme, with recent surplus reports bolstering credibility. Vaca Muerta developments continue to drive energy sector growth, with export volumes supporting reserve accumulation amid capital controls. Inflation pass-through from global energy prices remains a risk, though domestic disinflation trends offer some buffer.
Global Macro News
Global markets reacted sharply to U.S. President Trump's threat to blockade the Strait of Hormuz, escalating tensions with Iran and driving oil prices higher, which could benefit Argentina's Vaca Muerta exports but raise import costs for refined products. (cont...)
