Argentina Macro Daily(Beta Mode)
Fitch Upgrades Argentina to B-
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,759,257.00 | -0.28% |
| USD/ARS | 1,392.50 | -0.68% |
| YPF | 43.97 | -1.04% |
| MercadoLibre | 1,817.31 | +0.21% |
| Globant | 40.09 | -0.22% |
| Soybeans | 1,204.25 | +0.71% |
| Gold | 4,706.70 | +3.31% |
| Bitcoin | 81,933.46 | +1.24% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude Oil Prices | Type: macro_line | USD per Barrel: 113.9 (2026-04-27) | Range: 59.93–138.2 | Trend(5pt): 68.73,106.5,86.82,78.01,113.9
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Fitch upgrades Argentina to B- on fiscal improvements, boosting market sentiment.
- MERVAL dips slightly amid mixed global cues; USD/ARS weakens.
- Aviation sector surges 18%, signaling economic recovery.
Yesterday's Recap
Argentine markets showed mixed performance with the MERVAL index declining 0.28% to 2,759,257 amid cautious trading. The USD/ARS official rate fell 0.68% to 1,392.50, reflecting peso strengthening possibly due to central bank interventions. Key stocks like YPF dropped 1.04% to 43.97, while MercadoLibre edged up 0.21% to 1,817.31, buoyed by e-commerce resilience.
Globant slipped 0.22% to 40.09, tracking broader tech softness. Soybeans rose 0.71% to 1,204.25, supporting export outlooks. Gold climbed 3.31% to 4,706.70, and Bitcoin gained 1.24% to 81,933.46.
No major data releases occurred, but Fitch's upgrade to B- with stable outlook highlighted improved fiscal balances, progress on economic reforms, and better prospects. Overall, assets reacted positively to rating news despite global volatility.
The Day Ahead
No significant economic data releases are scheduled for today, allowing markets to digest recent upgrades and global news. Attention may turn to potential congressional updates on fiscal reforms, including Milei's gas subsidy cuts. Traders will monitor parallel peso rates for any shifts in capital control dynamics.
Broader focus includes IMF programme compliance, with any informal central bank signals on reserves potentially influencing USD/ARS. Energy sector developments could drive YPF and related equities. Expect low volatility unless unexpected political announcements emerge.
Other Economic Notes
Argentina's aviation sector grew 18% in international passengers, surpassing regional peers like Brazil, Panama, Peru, Colombia, Chile, and Mexico, and hitting over 30 million in 2025, underscoring tourism recovery and infrastructure gains. Milei's bill to trim gas subsidies in cold zones aims at fiscal equilibrium, potentially reducing expenditures but risking regional pushback. These moves align with broader deregulation efforts, enhancing prospects for external balances.
Global Macro News
IMF warnings of higher inflation and downward growth revisions due to prolonged conflicts could pressure Argentina's commodity exports, especially soybeans and energy. (cont...)
