Argentina Macro Daily(Beta Mode)
MERVAL Falls 1.55% as Peso Holds Steady
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 3,058,093.00 | -1.55% |
| USD/ARS | 1,508.25 | -0.16% |
| EUR/ARS | 1,753.74 | +0.20% |
| Gold | 4,525.20 | +0.75% |
| Brent Crude | 94.99 | -0.55% |
| Soybean | 1,310.75 | +0.34% |
| Bitcoin | 81,155.01 | +4.99% |
| Argentina 10Y | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
MERVAL Index (3mo) | Type: market_hloc | Index: 3.058e+06 (2026-09-03) | Range: 2.874e+06–3.38e+06 | Trend(5pt): 3.164e+06,3.123e+06,3.282e+06,3e+06,3.058e+06
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MERVAL drops 1.55% to 3,058,093 amid thin trading
- USD/ARS eases 0.16% to 1,508.25 while EUR/ARS rises 0.20%
- No Argentine data releases or policy announcements reported
Yesterday's Recap
Argentine markets recorded modest declines on September 3 with the MERVAL index closing at 3,058,093.00 after a 1.55% drop. The peso showed resilience as USD/ARS finished at 1,508.25, down 0.16%, while EUR/ARS advanced 0.20% to 1,753.74. Gold rose 0.75% to 4,525.20, offering some support to local valuations, whereas Brent Crude fell 0.55% to 94.99 and soybean prices gained 0.34% to 1,310.75.
No economic data prints were released, leaving traders without fresh inflation or activity signals. President Javier Milei reiterated Argentina’s Falklands claim and signaled potential sanctions on British oil firms, though markets priced the comments as largely symbolic. Bitcoin’s 4.99% surge to 81,155.01 provided external risk-on sentiment but had limited direct spillover into Argentine assets.
The absence of BCRA intervention kept FX volatility contained throughout the session.
The Day Ahead
September 4 features an empty economic calendar with zero scheduled releases for Argentina. Traders will monitor soybean export flows and any updates on fiscal consolidation targets under the IMF programme. Global oil price movements and U.S.
rate expectations may influence local sentiment given Argentina’s commodity exposure. The BCRA is expected to maintain its current FX and reserve management stance absent new data. Equity desks anticipate continued low-volume trading ahead of the weekend.
Attention remains on peso stability and any incremental progress on inflation management.
Other Economic Notes
Fiscal consolidation efforts continue to anchor policy credibility despite the lack of fresh prints. Soybean export revenues remain central to reserve accumulation and current-account support. The peso’s narrow trading range reflects steady BCRA liquidity management and limited intervention pressure.
Broader themes include ongoing IMF programme compliance and the need to sustain real wage recovery amid still-elevated inflation. Domestic bond markets stayed quiet with the 10-year yield data unavailable, underscoring thin secondary-market activity.
