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Bloomberg reports the Colombian peso is the top-performing currency in the world this year, having risen about 22% against the dollar. The rally is attributed to high local interest rates and rising crude prices, even as President Petro's government weakens.
A stronger peso makes Colombian imports of feed ingredients cheaper in local terms, while oil-linked support reflects energy-wide strength rather than a direct feed supply change.
bloomberg.comMatthew Bristow, Carter JohnsonSep 25, 2023Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
