# Mexico's peso up strongly after brutal selloff; Brazil's real down | Financial Post

> The Mexican peso rose 2.4% on June 12, 2020, recovering from a nearly 4% loss the previous day, while the Brazilian real slipped 1%. The moves followed a second-wave COVID-19 scare in the US that hit oil prices and risk sentiment.

- Date: 2020-06-12 · published 2020-06-12T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/52838-mexico-s-peso-up-strongly-after-brutal-selloff-brazil-s-real-down-financial-post
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Sharp swings in the peso and real affect the dollar cost of Latin American feed imports, and oil-driven moves can shift biofuel-linked demand for vegetable oils and meals.

## Read by commodity

- WTI: bearish ▼
- USDBRL: neutral
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2021-03-30 | [Brazil's real steady after ministerial reshuffle, jobs data \| Financial Post](https://feedsoft.ai/events/48305-brazil-s-real-steady-after-ministerial-reshuffle-jobs-data-financial-post.md) | -2.1% | -5.7% |
| USDBRL | 2022-04-27 | [Brazilian real, Chilean peso steady against raging dollar \| Financial Post](https://feedsoft.ai/events/6862-brazilian-real-chilean-peso-steady-against-raging-dollar-financial-post.md) | +0.3% | -3.2% |
| USDBRL | 2021-07-01 | [Latam FX fall on virus worries; Brazil's real down 1% \| Financial Post](https://feedsoft.ai/events/46264-latam-fx-fall-on-virus-worries-brazil-s-real-down-1-financial-post.md) | +4.5% | +0.8% |
| USDBRL | 2020-09-04 | [Brazil's real slips against firmer dollar, Wall St slide hits Latam stocks \| Financial Post](https://feedsoft.ai/events/51311-brazil-s-real-slips-against-firmer-dollar-wall-st-slide-hits-latam-stocks.md) | -0.1% | +7.1% |
| USDBRL | 2020-10-29 | [Latam FX steadies after selloff; Oil-linked currencies slide \| Financial Post](https://feedsoft.ai/events/50919-latam-fx-steadies-after-selloff-oil-linked-currencies-slide-financial-post.md) | -1.5% | -6.3% |
| WTI | 2020-07-23 | [Latam FX weakens, Brazil's real comes off one-month high \| Financial Post](https://feedsoft.ai/events/52312-latam-fx-weakens-brazil-s-real-comes-off-one-month-high-financial-post.md) | -1.7% | +2.5% |
| WTI | 2020-10-29 | [Latam FX steadies after selloff; Oil-linked currencies slide \| Financial Post](https://feedsoft.ai/events/50919-latam-fx-steadies-after-selloff-oil-linked-currencies-slide-financial-post.md) | +4.6% | +22.3% |
| WTI | 2020-09-09 | [Dollar and yen rise as tech selloff sends investors to safety \| Financial Post](https://feedsoft.ai/events/51342-dollar-and-yen-rise-as-tech-selloff-sends-investors-to-safety-financial-post.md) | +3.9% | +10.1% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/mexicos-peso-up-strongly-after-brutal-selloff-brazils-real-down

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