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The Chilean peso led Latin American currency gains on higher copper prices, while the Mexican peso hit a one-week high after first-quarter GDP growth data. A jump in oil prices also supported the Mexican peso and the Colombian peso.
Currency moves in major Latin American feed-importing economies change the local cost of dollar-priced grain and meal, while higher oil prices can lift energy and freight costs.
financialpost.comReutersMay 26, 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.
