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The Mexican peso fell to a three-year low against the US dollar. The Bank of Mexico and the Treasury attributed the decline to falling world oil prices and economic fallout from the coronavirus outbreak, and announced $30 billion in coverage.
The weaker peso increases import costs for Mexican feed buyers, and the falling oil prices that drove the decline also weigh on energy-linked commodities and farm input costs.
apnews.comMar 10, 2020Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
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.
