# USD/MXN Price Analysis: Peso Gains One Over Greenback | FXEmpire

> The Mexican peso gained against the dollar, with USD/MXN slipping below 20.000 for the first time in days. The move followed a drop in oil prices and a defensive market tone, and Banxico's rate hike had caught Wall Street by surprise.

- Date: 2021-07-07 · published 2021-07-07T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/46283-usd-mxn-price-analysis-peso-gains-one-over-greenback-fxempire
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A firmer peso reduces the local cost of dollar-priced feed inputs for Mexico. The move is a currency-market development with little direct effect on grain prices.

## Read by commodity

- WTI: bearish ▼
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-05-31 | [US dollar falls significantly against Canadian dollar \| FXEmpire](https://feedsoft.ai/events/65248-us-dollar-falls-significantly-against-canadian-dollar-fxempire.md) | -5.1% | +11.1% |
| WTI | 2022-03-02 | [Oil price spike could prompt demand slump, MUFG analysis suggests \| Reuters](https://feedsoft.ai/events/10345-oil-price-spike-could-prompt-demand-slump-mufg-analysis-suggests-reuters.md) | +19.4% | +0.6% |
| WTI | 2020-04-26 | [Oil price crash, COVID-19 weaken grains and oilseed markets](https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets.md) | +21.1% | +105.0% |
| WTI | 2020-05-01 | [A price paradigm shift for corn is coming, analyst says](https://feedsoft.ai/events/53157-a-price-paradigm-shift-for-corn-is-coming-analyst-says.md) | +23.8% | +86.1% |
| WTI | 2017-06-21 | [Colombia's peso slides against US dollar as global oil prices tumble \| The City Paper Bogotá](https://feedsoft.ai/events/70797-colombia-s-peso-slides-against-us-dollar-as-global-oil-prices-tumble-the-city.md) | +2.2% | +8.8% |

## Sources

- fxempire.com: https://www.fxempire.com/forecasts/article/usd-mxn-price-analysis-peso-gains-one-over-greenback-750463

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.