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Most Latin American currencies rose on Friday, with Mexico's peso up about 2% for the week. Citi said a Pemex debt-absorption move worsens Mexico's credit outlook, and Brazil's real extended gains.
Currency moves and sovereign credit concerns shape the cost of dollar-denominated feed imports for Mexico and Brazil, though the effect on grain prices is indirect.
brecorder.comReutersMar 19, 2021Not enough comparable past events yet for a historical read.
After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% 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.
