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The Mexican peso fell 0.6% to 18.98 per dollar on Thursday after a 1.2% drop the prior session. Other Latin American currencies also weakened amid recession fears and hawkish central bank comments.
Brazil's real slipped 0.1% after Lula criticised central bank independence.
Regional currency weakness and recession fears can dampen Latin American demand for imported feed ingredients. Currency moves also shift the relative cost of U.S. feed exports to Mexico and Brazil.
financialpost.comJan 19, 2023Not enough comparable past events yet for a historical read.
After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% 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.
