Argentina Macro Daily(Beta Mode)
MERVAL Climbs as Peso Holds Firm
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 2,788,517.00 | +0.50% |
| USD/ARS | 1,397.00 | -0.11% |
| YPF | 47.07 | -1.86% |
| MercadoLibre | 1,651.20 | +3.53% |
| Globant | 41.79 | +3.83% |
| Soybeans | 1,192.00 | -0.65% |
| Gold | 4,534.50 | +0.07% |
| Bitcoin | 77,340.58 | -0.15% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude Oil Price | Type: macro_line | USD/bbl: 116.7 (2026-05-18) | Range: 59.93–138.2 | Trend(5pt): 68.59,96.35,81.22,75.81,116.7
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MERVAL advances 0.50% to 2,788,517 on selective buying in energy and tech names.
- USD/ARS eases 0.11% to 1,397 while blue-chip premium stays contained.
- YPF declines 1.86% but MercadoLibre and Globant rally over 3% each.
Yesterday's Recap
Argentine markets posted modest gains in a data-empty session. The MERVAL closed 0.50% higher at 2,788,517 as investors rotated into local equities amid stable macro conditions. USD/ARS settled at 1,397 after a 0.11% decline, reflecting limited pressure on the official rate.
YPF fell 1.86% to 47.07 while MercadoLibre jumped 3.53% to 1,651.20 and Globant rose 3.83% to 41.79. Soybeans eased 0.65% to 1,192 amid softer Chinese demand signals. Gold held steady near 4,534.50 and Bitcoin slipped 0.15% to 77,340.58.
The absence of releases left focus on equity flows and contained parallel-market spreads. Broader EM sentiment remained constructive after softer UK inflation data reduced pressure on global yields.
The Day Ahead
No scheduled releases appear on the calendar for the next three days. Traders will monitor any BCRA reserve updates or Treasury comments on fiscal execution. Attention stays on Vaca Muerta output trends and their contribution to export receipts.
Markets also watch global commodity prices for spillovers into local equities. A quiet period may keep volatility low until the next inflation print or IMF review update surfaces. Liquidity conditions are expected to remain orderly given the steady crawl and limited intervention.
Other Economic Notes
Fiscal over-performance continues to support the crawling-peg framework and reserve accumulation targets. Vaca Muerta production gains remain a key driver of hard-currency inflows and energy self-sufficiency. Recent deregulation measures on capital-goods imports should gradually lift investment without immediate pressure on the trade balance.
Broader disinflation momentum appears intact, reducing the urgency for abrupt policy shifts. Export proceeds from agriculture and energy continue to anchor external accounts.
Global Macro News
UK inflation fell more than expected in April, easing pressure on global yields and supporting EM asset appetite. Euro-area inflation rose to 3.0%, raising the odds of further ECB tightening that could strengthen the dollar. <i>↓ p.2</i>
