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The Mexican peso rose for a third straight day against the dollar, trading near 17.17, after Mexico posted a larger-than-expected December trade surplus. US core PCE inflation also fell below 3%, raising expectations of a Fed rate cut in May.
A firmer peso lowers the cost of dollar-priced grain and meal imports for Mexican feed mills. Expectations of Fed easing weigh on the dollar more broadly.
octaafrica.netJan 26, 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.
