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The Mexican peso was steady around 20.50 per U.S. dollar on November 12, 2020, after rebounding from a low of 20.00 earlier in the week. Markets were awaiting a Banxico decision, with most analysts expecting a 25 basis point rate cut.
A firmer peso lowers the cost of U.S. feed imports priced in pesos, which supports Mexican demand for U.S. corn and meal. A Banxico cut would add downward pressure on the peso and could support import demand.
octaafrica.netNov 12, 2020Not 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.
