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Latin American currencies weakened against the dollar on January 25, 2021 as COVID-19 cases rose regionally. Mexico's peso fell as much as 1.3% after President Lopez Obrador tested positive for the virus, while Colombia's peso dropped up to 2.2% amid weaker crude prices.
A weaker peso makes dollar-priced feed ingredients costlier for Mexican buyers, while sluggish crude pressure on commodity-linked currencies is a minor signal for energy-linked feed costs.
brecorder.comReutersJan 25, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
