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The Mexican peso strengthened to around 22.5 per dollar, its highest in over two months, as Brent crude rose above $35 a barrel on signs of fuel demand recovery. Mexico posted a April trade deficit of $3.807 billion, with exports down 40.9% year on year, and the central bank had cut rates by 50 basis points on May 14.
Firmer oil prices and a stronger peso reflect improving risk sentiment, which can support energy-linked currencies and commodity sentiment, though the effect on feed prices is indirect.
tradersasset.comAndrew WrightMay 26, 2020After 323 past bullish macro events, BRENT moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
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.
