Argentina Macro Daily(Beta Mode)
Merval Falls as Peso Strengthens
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,792,993.00 | -1.42% |
| USD/ARS | 1,384.00 | -0.66% |
| YPF | 44.95 | +0.04% |
| MercadoLibre | 1,578.78 | +1.38% |
| Globant | 35.71 | -4.03% |
| Soybeans | 1,229.50 | +1.32% |
| Gold | 4,708.00 | +0.65% |
| Bitcoin | 81,244.13 | +0.95% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
US CPI vs Core CPI | Type: macro_line | US CPI: 3.947 (2026-04-01) | Range: 2.325–8.979 | Trend(6pt): 5.296,8.223,3.251,2.871,3.32,3.947 | US Core CPI: 2.988 (2026-04-01) | Range: 2.673–6.624 | Trend(6pt): 4.439,6.286,4.027,3.213,2.673,2.988
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Merval index dropped 1.42% amid global risk aversion, while USD/ARS fell 0.66% on BCRA interventions.
- Protests surged over President Milei's university funding cuts, underscoring fiscal austerity challenges.
- Commodity prices advanced, with soybeans up 1.32%, bolstering Argentina's export prospects.
Yesterday's Recap
Argentine markets ended lower on May 12, with the Merval index declining 1.42% to 2,792,993 amid wider emerging market pressures. The USD/ARS official rate fell 0.66% to 1,384, indicating peso strengthening likely tied to BCRA stabilization efforts. No significant economic data was released, shifting focus to parallel market trends where blue-chip rates remained stable.
YPF shares rose 0.04% to 44.95, supported by steady Vaca Muerta output updates, while MercadoLibre climbed 1.38% to 1,578.78 on robust e-commerce performance. Globant fell 4.03% to 35.71, hit by tech sector fluctuations. Soybean prices increased 1.32% to 1,229.50, enhancing export income despite El Niño risks.
Gold advanced 0.65% to 4,708.00, and Bitcoin gained 0.95% to 81,244.13. Tens of thousands demonstrated in Buenos Aires against Milei's university funding reductions, potentially heightening social tensions and affecting reform progress.
The Day Ahead
No economic data releases or events are scheduled for May 13, pointing to a subdued session influenced by international developments. Traders may track any impromptu BCRA statements on currency management, especially after recent peso gains. Parallel market shifts could gain attention if protests intensify.
May 14 similarly has no major releases, prolonging the data lull. Investors should monitor global news for impacts on commodities and currencies. With limited local drivers, volatility may stay contained absent external disruptions.
Other Economic Notes
Argentina's fiscal tightening under Milei encounters resistance from education cut protests, which might slow austerity and affect funding stability. Vaca Muerta shale progress offers positives, with growing production aiding energy exports and curbing imports. Inflation appears to be easing based on recent patterns, though parallel currency gaps signal ongoing capital control issues.
Commodity strength, particularly in soybeans, supports trade balances amid global weather uncertainties.
