Loading…
The Mexican Peso weakened on September 27, with USD/MXN reaching 19.74 and gaining about 0.5% on the day, extending losses for a second session. The move followed Banxico's cut of its benchmark rate to 10.50% and softer US PCE inflation data, and the peso recorded a weekly depreciation above 1.30%.
A weaker peso raises the local-currency cost of imported US feed grains and meal for Mexican feed mills, which can slow purchases and weigh on US export demand.
fxstreet.comChristian Borjon ValenciaSep 27, 2024Not enough comparable past events yet for a historical read.
After 78 past neutral macro events, Corn moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), and -0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
