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CIBC's Luis Hurtado expects the USD/MXN short opportunities to fade into the fourth quarter, forecasting the pair at 22 by year-end. He notes the peso has been supported by global equities, central bank liquidity and vaccine hopes, and Banxico's cautious easing.
A dip toward 21.50 remains possible, but volatility is expected to rise ahead of the US election.
A forecast of a firmer peso versus the dollar would lower the cost of imported feed inputs for Mexican buyers, while the expected volatility adds uncertainty to currency-hedged purchasing.
teletrade.orgJul 29, 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.
