Argentina Macro Daily(Beta Mode)
Milei Reviews Reforms as Markets Stabilize
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| MERVAL | 3,079,779.00 | -0.15% |
| USD/ARS | 1,506.00 | -0.13% |
| EUR/ARS | 1,737.56 | -0.21% |
| Gold | 4,371.80 | +0.90% |
| Brent Crude | 107.96 | -0.73% |
| Soybean | 1,329.00 | +0.78% |
| Bitcoin | 75,734.00 | +0.16% |
| Argentina 10Y | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
MERVAL Index 3M | Type: market_hloc | Index: 3.08e+06 (2026-09-15) | Range: 2.874e+06–3.38e+06 | Trend(5pt): 3.255e+06,3.202e+06,3.291e+06,3.009e+06,3.08e+06
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- MERVAL slips 0.15% while USD/ARS eases 0.13% on quiet session
- No Argentine data releases or BCRA signals reported yesterday
- Milei cabinet advances Falklands sanctions alongside economic review
Yesterday's Recap
Equity and currency markets posted modest declines with limited volume. The MERVAL index closed at 3,079,779.00, down 0.15%. USD/ARS finished at 1,506.00 after a 0.13% decline, while EUR/ARS settled at 1,737.56, off 0.21%.
Commodity moves offered mixed support, with soybean prices rising 0.78% to 1,329.00 and gold advancing 0.90%. Brent crude fell 0.73% to 107.96. No economic releases occurred on September 14, leaving analysts without fresh inflation, trade or fiscal prints to assess.
President Javier Milei convened his cabinet to review ongoing fiscal consolidation and to tighten sanctions related to the Falkland Islands. Brazil’s main opposition candidate separately signaled interest in drawing from Milei’s reform agenda, underscoring regional attention to Argentina’s deregulation path.
The Day Ahead
The calendar remains empty for September 16, with zero scheduled releases across inflation, activity or external accounts. Traders will therefore focus on any follow-up statements from the Milei administration regarding the Falklands strategy or further reform implementation. Soybean export flows and reserve accumulation data may surface through secondary channels.
Global commodity price swings, particularly in Brent and gold, could influence peso sentiment even without domestic prints. Market participants will monitor USD/ARS forward points for any shift in intervention expectations ahead of the weekend.
Other Economic Notes
Fiscal consolidation remains the core policy anchor under Milei, with primary balance targets guiding spending restraint. Soybean export proceeds continue to provide the main source of foreign-exchange inflows supporting reserve rebuilding. Brazil’s opposition signals interest in replicating elements of Argentina’s deregulation drive, highlighting regional spillovers from the reform agenda.
The absence of fresh data leaves the IMF programme trajectory dependent on monthly fiscal and trade outcomes rather than one-off prints. External vulnerability metrics, especially reserve coverage of short-term liabilities, stay in focus for rating agencies.
