# The peso depreciates against the dollar by 2 factors - Opportimes

> The Mexican peso closed the week of May 21 down 0.53% near 19.97 per dollar, its first weekly loss after two weeks of gains. The decline followed Fed minutes signaling possible early tapering and a record US services PMI, while WTI fell 2.48% and soybeans fell 3.89% and wheat 4.88%.

- Date: 2021-05-21 · published 2021-05-21T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/47311-the-peso-depreciates-against-the-dollar-by-2-factors-opportimes
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Expectations of earlier Fed tightening strengthen the dollar and weigh on dollar-priced grains and oilseeds. Lower crude prices also reduce input costs for biofuel-linked oilseed demand.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- WHEAT: bearish ▼
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-05-18 | [Dollar spikes against major currencies](https://feedsoft.ai/events/4359-dollar-spikes-against-major-currencies.md) | -2.8% | -4.2% |
| SOY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -2.8% | -1.9% |
| SOY | 2019-06-11 | [For China's yuan, the path toward 7 per dollar is now wide open \| The Straits Times](https://feedsoft.ai/events/58818-for-china-s-yuan-the-path-toward-7-per-dollar-is-now-wide-open-the-straits-times.md) | +6.3% | +2.8% |
| SOY | 2024-11-06 | [Dollar surges, set for biggest one-day rise since March 2023 against peers \| World News - Business Standard](https://feedsoft.ai/events/6859-dollar-surges-set-for-biggest-one-day-rise-since-march-2023-against-peers-world.md) | +1.0% | -1.0% |
| SOY | 2026-03-20 | [Grain Futures Slid As Oil Paused And The Dollar Firmed - Finimize](https://feedsoft.ai/events/11695-grain-futures-slid-as-oil-paused-and-the-dollar-firmed-finimize.md) | +0.4% | -0.1% |
| WHEAT | 2026-03-20 | [Grain Futures Slid As Oil Paused And The Dollar Firmed - Finimize](https://feedsoft.ai/events/11695-grain-futures-slid-as-oil-paused-and-the-dollar-firmed-finimize.md) | -0.1% | +1.1% |
| WHEAT | 2022-07-12 | [Dollar rises to 20-year highs, sends grains lower – The Seam](https://feedsoft.ai/events/5974-dollar-rises-to-20-year-highs-sends-grains-lower-the-seam.md) | +7.2% | +7.0% |
| WHEAT | 2022-09-28 | [Why is the US dollar so strong, and what does it mean?](https://feedsoft.ai/events/10320-why-is-the-us-dollar-so-strong-and-what-does-it-mean.md) | +1.3% | -10.3% |

## Sources

- opportimes.com: https://www.opportimes.com/en/the-peso-depreciates-against-the-dollar-by-2-factors/

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