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The Mexican peso weakened sharply after a stronger-than-expected US nonfarm payrolls report, pushing USD/MXN to 20.78 and erasing the week's gains. Analysts expected a Banxico rate decision the following week.
A weaker peso raises the local-currency cost of imported feed grains and meal for Mexican buyers, while the firmer dollar is mildly bearish for dollar-priced commodities.
teletrade.orgFeb 4, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
