# COVID-19 Pressures Mexican Peso

> The Mexican peso fell 1.09% to MX$19.00 per US dollar on Monday after dropping 2.1% earlier in the session, as COVID-19 fears drove safe-haven demand for the dollar and gold. Mexican oil export prices and Brent and WTI crude also fell about 4% on concerns about the virus's impact on fuel demand.

- Date: 2020-02-25 · published 2020-02-25T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/54791-covid-19-pressures-mexican-peso
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Weaker peso and lower crude prices reduce the dollar cost of Mexican feed purchases and signal softer energy-linked demand. Risk-off flows may keep USD/MXN under upward pressure while virus fears persist.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-01-25 | [Mexico peso hits 2-wk low after president tests positive for COVID-19 - Markets - Business Recorder](https://feedsoft.ai/events/49356-mexico-peso-hits-2-wk-low-after-president-tests-positive-for-covid-19-markets.md) | -0.2% | +17.9% |
| WTI | 2020-10-26 | [Stock markets slide as Covid-19 cases rise](https://feedsoft.ai/events/8190-stock-markets-slide-as-covid-19-cases-rise.md) | -10.3% | +5.7% |
| WTI | 2020-04-21 | [Oil-sensitive Mexican, Colombian pesos lead losses in Latam \| Financial Post](https://feedsoft.ai/events/53907-oil-sensitive-mexican-colombian-pesos-lead-losses-in-latam-financial-post.md) | -32.4% | +73.9% |
| WTI | 2020-03-10 | [Mexico sees peso at 3-year low, offers $30 billion coverage \| AP News](https://feedsoft.ai/events/54338-mexico-sees-peso-at-3-year-low-offers-30-billion-coverage-ap-news.md) | -7.1% | -15.8% |
| WTI | 2020-04-26 | [Oil price crash, COVID-19 weaken grains and oilseed markets](https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets.md) | +21.1% | +105.0% |
| BRENT | 2020-04-30 | [PRESS CONFERENCE](https://feedsoft.ai/events/53850-press-conference.md) | +33.7% | +72.6% |
| BRENT | 2020-04-26 | [Oil price crash, COVID-19 weaken grains and oilseed markets](https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets.md) | +19.9% | +86.8% |
| BRENT | 2021-04-21 | [Oil prices drop as India’s COVID-19 surge dents demand outlook \| Reuters](https://feedsoft.ai/events/47759-oil-prices-drop-as-india-s-covid-19-surge-dents-demand-outlook-reuters.md) | +0.6% | +4.4% |

## Sources

- mexicobusiness.news: https://mexicobusiness.news/finance/news/covid-19-pressures-mexican-peso

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