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ARGENTINA: President Milei In New York For Meetings, Speech

ARGENTINA
  • President Milei is due to speak at the New York stock exchange today and to ring the bell for trading, before meeting with Elon Musk at 1630BST(1130ET). He will then speak at the Council on Foreign Relations at 2045BST(1545ET). No macro data are due today, with attention on July economic activity on Wednesday, followed by Q2 current account figures on Friday.
  • Meanwhile, the government is planning scheduled power cuts to cope with summer electricity demand, amid forecasts for high temperatures. Chief of Staff Guillermo Francos said the idea was to reach agreements with industrial users, given concerns that the grid will be unable to meet sudden demand peaks.
  • In other news, an LNG terminal that YPF plans to develop with Petronas could still go ahead without the latter’s support, after local media suggested Petronas might pull out. YPF CEO Horacio Marín also said that the company is analysing a potential fuel price cut, which would be the first since 2019.
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  • President Milei is due to speak at the New York stock exchange today and to ring the bell for trading, before meeting with Elon Musk at 1630BST(1130ET). He will then speak at the Council on Foreign Relations at 2045BST(1545ET). No macro data are due today, with attention on July economic activity on Wednesday, followed by Q2 current account figures on Friday.
  • Meanwhile, the government is planning scheduled power cuts to cope with summer electricity demand, amid forecasts for high temperatures. Chief of Staff Guillermo Francos said the idea was to reach agreements with industrial users, given concerns that the grid will be unable to meet sudden demand peaks.
  • In other news, an LNG terminal that YPF plans to develop with Petronas could still go ahead without the latter’s support, after local media suggested Petronas might pull out. YPF CEO Horacio Marín also said that the company is analysing a potential fuel price cut, which would be the first since 2019.