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Banorte analysts expect the Mexican peso to strengthen toward 17.85 per dollar this week, after trading above 18 on Monday. Mexico's March inflation data and speculation about a possible May rate hike by the central bank are the key events to watch.
A stronger peso lowers the peso cost of US feed and grain imports for Mexican buyers, while the rate-hike debate reflects tight monetary conditions that weigh on Mexican livestock and feed demand.
bloomberglinea.comEstephanie SuárezApr 3, 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.
