# Mexican Peso ticks downward in wake of Powell's remarks

> The Mexican Peso was roughly flat against the US dollar on September 30 with USD/MXN near 19.66, as traders awaited Claudia Sheinbaum's October 1 inauguration as president. Fed Chair Powell's remarks at the NABE meeting, dismissing a 50bp cut, lifted the dollar, and a strong Chicago Fed activity index added to dollar support.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/28533-mexican-peso-ticks-downward-in-wake-of-powell-s-remarks
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A firmer dollar and a weaker peso make US-origin feed ingredients and grain priced in dollars relatively more expensive for Mexican importers, which can trim near-term buying of US corn and meal.

## Read by commodity

- CORN: neutral
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2026-03-27 | [Mexican peso slides past 18 as Iran war pressures mount](https://feedsoft.ai/events/20378-mexican-peso-slides-past-18-as-iran-war-pressures-mount.md) | -2.9% | -1.9% |
| CORN | 2017-05-22 | [Tight monetary policy to strengthen Mexican peso](https://feedsoft.ai/events/71217-tight-monetary-policy-to-strengthen-mexican-peso.md) | +1.0% | +2.3% |
| CORN | 2017-02-28 | [Trump Was Going to Kill Mexico’s Peso. It’s Doing Just Fine - Bloomberg](https://feedsoft.ai/events/72712-trump-was-going-to-kill-mexico-s-peso-it-s-doing-just-fine-bloomberg.md) | +0.9% | -1.1% |
| CORN | 2017-02-22 | [‘Desperate measures’: analysts react to Mexico’s $20bn peso plan](https://feedsoft.ai/events/72714-desperate-measures-analysts-react-to-mexico-s-20bn-peso-plan.md) | -0.1% | -1.6% |
| CORN | 2024-09-27 | [Mexican Peso falls, weekly depreciation exceeds 1.30%](https://feedsoft.ai/events/28534-mexican-peso-falls-weekly-depreciation-exceeds-1-30.md) | +2.2% | +1.0% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-post-gains-as-markets-eye-sheinbaums-inauguration-202409301709

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.