Argentina Macro Daily(Beta Mode)
MERVAL Dips 2%, Peso Weakens
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,738,355.00 | -1.96% |
| USD/ARS | 1,391.50 | +0.47% |
| YPF | 43.53 | -3.16% |
| MercadoLibre | 1,562.00 | -1.06% |
| Globant | 32.75 | -8.29% |
| Soybeans | 1,213.50 | -0.14% |
| Gold | 4,698.90 | +0.03% |
| Bitcoin | 79,544.99 | +0.34% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
WTI Crude Oil Price | Type: macro_line | $ per Barrel: 101.6 (2026-05-11) | Range: 55.44–123.6 | Trend(5pt): 66.24,97.02,77.96,72.73,101.6
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MERVAL index fell 1.96% to 2,738,355 amid global risk-off and profit-taking in local equities.
- USD/ARS official rate rose 0.47% to 1,391.50, reflecting steady crawling peg amid thin liquidity.
- ADRs slid sharply: YPF -3.16%, Globant -8.29%; soybeans eased 0.14% on ample global supply.
Yesterday's Recap
Argentine markets closed lower on May 13 with no major data releases. The MERVAL index dropped 1.96% to 2,738,355, pressured by declines in energy and tech names as investors rotated out of EM equities. YPF shares fell 3.16% to $43.53 in NYSE trading, tracking softer oil sentiment despite steady Vaca Muerta output.
MercadoLibre dipped 1.06% to $1,562 and Globant plunged 8.29% to $32.75, mirroring Nasdaq weakness. The official USD/ARS rate edged up 0.47% to 1,391.50, consistent with the BCRA's 2% monthly crawling peg. Parallel rates held steady, keeping the gap narrow at around 5%.
Soybeans settled 0.14% lower at 1,213.50, weighing on ag exporters. Gold edged up 0.03% to 4,698.90/oz while Bitcoin rose 0.34% to 79,544.99.
The Day Ahead
No economic data or policy events scheduled for May 14 in Argentina per calendar. Markets will eye BCRA reserve updates, expected to show modest accumulation from export inflows. Vaca Muerta rig counts or energy export data could leak informally, influencing YPF sentiment.
Investor focus shifts to global cues, including Bank of Canada interest rate announcement at 09:45 ET and related surveys. Any ad-hoc Treasury comments on IMF compliance may move bonds. Thin volumes likely persist ahead of weekend.
Other Economic Notes
Argentina's IMF program remains on track after recent staff-level agreement on third review, with $1.1bn tranche pending fiscal primary surplus targets. Vaca Muerta production holds above 900 kb/d, bolstering trade surpluses despite soybean softness. Deregulation efforts continue via decrees trimming red tape in energy and ag sectors to lift exports.
Inflation expectations steady around mid-30% for 2026 on sustained crawling peg. Fiscal primary surplus holds firm, supporting peso stability.
Global Macro News
US-China oil dynamics are capping global prices, shielding EM exporters like Argentina from supply shocks. <i>↓ p.2</i>
