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Mexico's first-quarter GDP grew 0.8% quarter-on-quarter, beating a 0.6% median estimate, with gains in industry, manufacturing and agriculture. Economic activity rose 2.6% month-on-month in March and the peso strengthened against the dollar.
Stronger Mexican growth supports feed demand from the country's livestock and poultry sectors, though the effect on grain prices is small. The peso move mainly affects the cost of US feed exports priced in dollars.
fxdailyreport.comDaffa ZakyMay 26, 2021Not 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.
