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USD/MXN held near 17.12 as softer-than-expected US PCE inflation weakened the dollar, offsetting a deterioration in Mexican jobs data. Mexico's unemployment rate stayed at 3%, and US core PCE slowed from 4.7% to 4.6% year-on-year.
Currency moves like this shift the cost of imported feed inputs for Mexican buyers only slightly, since the pair was flat on the day. The story signals no clear change in the price outlook.
octaafrica.netJun 30, 2023Not 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.
