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Wells Fargo economists say the Mexican peso looks expensive on valuation but should stay supported and stable ahead of mid-2024 elections, because political risk is diminishing and the central bank is hawkish. They also favour the Brazilian real over other Latin American currencies.
A stable peso keeps Mexican import costs for feed and grain predictable, which supports steady buying. The forecast carries little direct price impact on feed commodities.
octaafrica.netJun 29, 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.
