Argentina Macro Daily(Beta Mode)
MERVAL Slips as Peso Weakens
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,707,869.00 | -1.44% |
| USD/ARS | 1,394.50 | +0.20% |
| YPF | 43.66 | -1.15% |
| MercadoLibre | 1,546.81 | -3.77% |
| Globant | 38.91 | +14.17% |
| Soybeans | 1,200.25 | +1.98% |
| Gold | 4,559.30 | +0.08% |
| Bitcoin | 76,872.83 | -0.72% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Vaca Muerta Oil Output Proxy | Type: macro_line | USD/bbl: 101.6 (2026-05-11) | Range: 55.44–123.6 | Trend(6pt): 63.28,94.86,77.96,71.32,98.38,101.6
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MERVAL fell 1.44% to 2,707,869 while USD/ARS rose 0.20% to 1,394.50 on thin volumes.
- Globant surged 14.17% while MercadoLibre dropped 3.77%, highlighting stock-specific drivers amid quiet data calendar.
- Global inflation fears and oil volatility from Middle East tensions pressured emerging-market assets including Argentine bonds.
Yesterday's Recap
Argentine markets closed lower with the MERVAL declining 1.44 percent to 2,707,869 amid limited local catalysts. The official USD/ARS rate advanced 0.20 percent to 1,394.50, reflecting steady BCRA supply in the spot market. YPF eased 1.15 percent to 43.66 as investors digested mixed energy output signals.
MercadoLibre fell 3.77 percent to 1,546.81 while Globant rallied 14.17 percent to 38.91 on earnings momentum. Soybeans gained 1.98 percent to 1,200.25, supporting export revenue expectations. Gold held steady at 4,559.30 and Bitcoin slipped 0.72 percent to 76,872.83.
No INDEC releases or BCRA policy announcements occurred, leaving price action driven by external flows.
The Day Ahead
The calendar remains empty through May 19 with no INDEC or BCRA data scheduled. Traders will monitor daily FX intervention volumes and any updates on IMF program reviews. Vaca Muerta production figures could surface via company releases and influence energy equities.
Attention stays on the crawling peg trajectory and reserve accumulation targets. Parallel market premiums will be watched for signs of renewed pressure ahead of month-end flows.
Other Economic Notes
Disinflation momentum appears intact following recent soft prints, reducing near-term rate-hike risks. Deregulation decrees continue to support transport and pharmaceutical sectors, aiding cost relief. Primary fiscal surplus targets remain on track per IMF feedback, bolstering sovereign debt sentiment.
Export competitiveness benefits from firm soybean prices despite global growth concerns.
Global Macro News
Global bonds extended their sell-off as inflation fears intensified from higher energy prices. Oil spikes linked to Gulf tensions lifted commodity revenues for Argentina while raising import cost risks. The IMF noted limited spillover to Saudi Arabia from regional conflicts, contrasting with broader emerging-market currency weakness.
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