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The USD/MXN pair turned negative after hitting weekly highs near 20.26 on Thursday, as a recovery in market sentiment helped the Mexican peso during the American session. Emerging market currencies had been under pressure from a sharp decline in global stocks.
A weaker peso raises the local cost of imported feed ingredients for Mexican buyers, while the technical outlook points to a possible move toward 20.45 with minimal direct grain price impact.
octaafrica.netJun 30, 2022Not 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.
