Loading…
Commerzbank said the peso could weaken if the minutes of Banxico's May meeting lacked hawkish arguments for faster rate hikes. The bank noted that a large part of the expected tightening already appears priced in, which is reflected in the peso's strength.
A weaker peso would raise the local cost of US feed grains and meal for Mexican buyers. The impact on global grain prices is minor because the comment concerns currency expectations rather than supply or demand.
teletrade.orgMay 26, 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.
