# Latam stocks up; Mexican, Colombian pesos lead FX gains

> 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%.

- Date: 2020-07-02 · published 2020-07-02T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/52401-latam-stocks-up-mexican-colombian-pesos-lead-fx-gains
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Higher crude supports oil-linked Latin American currencies and biofuel margins, which can modestly support soyoil and palm oil demand.

## Read by commodity

- WTI: bullish ▲
- USDCOP: bearish ▼
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-03-05 | [Latam FX struggle against buoyant dollar; Surging oil lifts Colombian peso \| Financial Post](https://feedsoft.ai/events/48397-latam-fx-struggle-against-buoyant-dollar-surging-oil-lifts-colombian-peso.md) | +3.5% | -3.8% |
| WTI | 2023-05-26 | [Chile's peso leads gains on copper price boost, Mexico's peso at one-week high \| Financial Post](https://feedsoft.ai/events/36163-chile-s-peso-leads-gains-on-copper-price-boost-mexico-s-peso-at-one-week-high.md) | +0.0% | -3.6% |
| WTI | 2023-09-25 | [Colombian Peso ($COP) Up 22% as President Petro Weakens - Bloomberg](https://feedsoft.ai/events/34399-colombian-peso-cop-up-22-as-president-petro-weakens-bloomberg.md) | +0.9% | -1.1% |
| WTI | 2023-08-20 | [Colombian Peso makes the Strongest Recovery in the World in 2023](https://feedsoft.ai/events/34862-colombian-peso-makes-the-strongest-recovery-in-the-world-in-2023.md) | -1.2% | +12.6% |
| WTI | 2025-03-26 | [Colombian Peso Surges 1.57% Against USD As Oil Climbs And Political Uncertainty Eases](https://feedsoft.ai/events/25891-colombian-peso-surges-1-57-against-usd-as-oil-climbs-and-political-uncertainty.md) | +3.1% | -9.8% |

## Sources

- reuters.com: https://www.reuters.com/article/emerging-markets-latam/emerging-markets-latam-stocks-up-mexican-colombian-pesos-lead-fx-gains-idUSL1N2E91VE/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.