# EMERGING MARKETS-Mexican peso snaps 3-day losing streak | Kitco News

> The Mexican peso snapped a three-day losing streak, while Colombia's peso led weekly gains on higher crude prices following OPEC+ production cuts. Brazil's real slipped 0.6% on the day.

- Date: 2023-04-06 · published 2023-04-06T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/36611-emerging-markets-mexican-peso-snaps-3-day-losing-streak-kitco-news
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Oil-linked currency strength in Colombia reflects the energy price rally that also supports soyoil and palm oil through biofuel economics; the peso moves themselves have limited direct effect on feed prices.

## Read by commodity

- WTI: bullish ▲
- USDCOP: bullish ▲
- USDMXN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-08-23 | [Canadian dollar snaps losing streak as oil prices jump \| Financial Post](https://feedsoft.ai/events/40272-canadian-dollar-snaps-losing-streak-as-oil-prices-jump-financial-post.md) | +5.3% | -8.4% |
| WTI | 2020-11-27 | [Diesel markets closing out a strong November - FreightWaves](https://feedsoft.ai/events/50321-diesel-markets-closing-out-a-strong-november-freightwaves.md) | +0.1% | +5.6% |
| WTI | 2020-06-29 | [Loonie strengthens as data shows consumer confidence rebounding - Markets - Business Recorder](https://feedsoft.ai/events/52859-loonie-strengthens-as-data-shows-consumer-confidence-rebounding-markets.md) | +5.3% | +7.8% |
| WTI | 2021-12-10 | [Canadian dollar set to end weekly losing streak as oil rallies \| Financial Post](https://feedsoft.ai/events/43855-canadian-dollar-set-to-end-weekly-losing-streak-as-oil-rallies-financial-post.md) | +2.1% | +11.4% |
| WTI | 2017-09-23 | [Arab News \| Heating oil market looks tight this winter  oil market looks tight this winter](https://feedsoft.ai/events/69115-arab-news-heating-oil-market-looks-tight-this-winter-oil-market-looks-tight.md) | +2.4% | +2.3% |

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-04-06/emerging-markets-mexican-peso-snaps-3-day-losing-streak

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.