Argentina Macro Daily(Beta Mode)
Inflation Slows, MERVAL Climbs 1.5%
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 3,157,852.00 | +1.53% |
| USD/ARS | 1,512.50 | -0.08% |
| EUR/ARS | 1,755.45 | -0.32% |
| Gold | 4,388.20 | +0.54% |
| Brent Crude | 104.43 | -2.97% |
| Soybean | 1,316.50 | +0.04% |
| Bitcoin | 77,296.53 | +0.95% |
| Argentina 10Y | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
MERVAL Index (3mo) | Type: market_hloc | Index: 3.158e+06 (2026-09-10) | Range: 2.874e+06–3.38e+06 | Trend(5pt): 3.153e+06,3.197e+06,3.256e+06,2.876e+06,3.158e+06
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Argentina monthly inflation hits 14-month low, boosting Milei policy credibility
- MERVAL rises 1.53% while USD/ARS eases 0.08% on modest peso support
- Empty calendar leaves focus on BCRA stance and commodity export trends
Yesterday's Recap
Argentina’s monthly inflation rate slowed to its lowest level in 14 months, delivering a clear policy win for President Javier Milei’s administration and reinforcing expectations of continued fiscal discipline. The MERVAL index advanced 1.53% to close at 3,157,852 as investors welcomed the softer print. USD/ARS declined 0.08% to 1,512.50, while EUR/ARS fell 0.32% to 1,755.45, indicating limited pressure on the peso.
Gold gained 0.54% to 4,388.20, providing a positive backdrop for reserve valuation. Brent Crude dropped 2.97% to 104.43, easing import cost concerns, and soybean futures edged 0.04% higher to 1,316.50, supporting export revenue projections. No additional Argentina-specific data releases appeared in the calendar.
The Day Ahead
No economic releases are scheduled for September 11, leaving markets without fresh domestic data points. The following day also carries zero scheduled events, extending the quiet period. Traders will monitor any informal BCRA commentary or reserve updates that could shape near-term expectations.
Italian Foreign Minister Tajani’s ongoing visit to Argentina offers potential signals on new investment commitments. Attention remains on soybean export volumes and their contribution to trade balance improvement. Peso liquidity conditions will stay in focus absent policy shifts.
Other Economic Notes
Milei’s fiscal consolidation continues to anchor market sentiment as inflation moderates, reducing pressure on real interest rates. Soybean export proceeds remain the primary driver of reserve accumulation and current-account support. Italian commercial outreach highlights renewed foreign investor interest in Argentine assets amid improving macro stability.
Broader themes center on sustaining primary fiscal surpluses to underpin peso credibility without relying on external financing.
Global Macro News
The European Central Bank raised its benchmark rate by 25 basis points to 2.5% to counter energy-driven inflation, tightening global financial conditions that can affect Argentine borrowing costs. ↓ p.2
