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The Mexican and Colombian pesos rose on higher oil prices after a positive US jobs report boosted demand expectations. Chile's peso gained about 0.9% as copper rallied on supply disruptions, after BHP said it would ramp down its Cerro Colorado mine due to the coronavirus.
Chilean stocks rose 3.5%.
Higher crude supports oil-linked Latin American currencies and biofuel margins, which can modestly support soyoil and palm oil demand.
reuters.comShreyashi SanyalJul 2, 2020After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
Not enough comparable past events yet for a historical read.
Not 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.
