# Mexican Peso Hits Two Month High as Crude Rises Above $35

> 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.

- Date: 2020-05-26 · published 2020-05-26T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/53340-mexican-peso-hits-two-month-high-as-crude-rises-above-35
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

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.

## Read by commodity

- BRENT: bullish ▲
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-02-05 | [Colombian peso recovers as price of Brent crude rises \| The City Paper Bogotá](https://feedsoft.ai/events/66753-colombian-peso-recovers-as-price-of-brent-crude-rises-the-city-paper-bogota.md) | -7.5% | -5.4% |
| BRENT | 2024-04-23 | [Crude oil prices today: WTI above $83 on hopes for interest rate cuts](https://feedsoft.ai/events/30928-crude-oil-prices-today-wti-above-83-on-hopes-for-interest-rate-cuts.md) | +1.5% | -5.0% |
| BRENT | 2016-12-12 | [Canadian dollar above 76 cents US as oil surges to 1½-year high \| CBC News](https://feedsoft.ai/events/73711-canadian-dollar-above-76-cents-us-as-oil-surges-to-11-2-year-high-cbc-news.md) | +2.7% | +0.3% |
| BRENT | 2023-09-01 | [US crude futures climb over $2 per barrel, notch third monthly hike](https://feedsoft.ai/events/34754-us-crude-futures-climb-over-2-per-barrel-notch-third-monthly-hike.md) | +4.0% | +10.3% |
| BRENT | 2023-04-03 | [Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder](https://feedsoft.ai/events/36512-palm-posts-biggest-jump-in-two-months-after-crude-oil-rally-markets-business.md) | +7.4% | +1.0% |

## Sources

- tradersasset.com: https://www.tradersasset.com/news/forex/mexican-peso-hits-two-month-high-as-crude-rises-above-35

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