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The Mexican peso moved below 20 per dollar on May 24, its first positive performance of the year. Mexico reported 50 COVID-19 deaths, the lowest daily increase since April 2020, and mid-month inflation came in below forecasts.
Easing pandemic restrictions and a stronger peso support Mexican demand for imported feed and meat, but the effect on grain prices is modest. A firmer peso lowers the local cost of dollar-priced US feed imports.
fxdailyreport.comDaffa ZakyMay 24, 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.
