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The Mexican peso rose against the dollar on the Fed decision and softer US employment data, with USD/MXN near 17.08. Banxico's survey expects rate cuts to 9.25% and a year-end exchange rate of 18.50, while Mexican manufacturing PMI slowed to 50.2.
A stronger peso lowers dollar-denominated feed input costs for Mexican buyers, a marginal bearish factor for US export demand, though the effect on grain prices is small.
fxstreet.comChristian Borjon ValenciaFeb 1, 2024Not enough comparable past events yet for a historical read.
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.
