# EMERGING MARKETS-Mexican peso leads losses in Latam FX on U.S.-China trade standoff

> Latin American currencies fell on Wednesday, with the Mexican peso hitting a six-week low, after a report that a US-China phase one trade deal may slip into next year. The US Senate also passed a Hong Kong human rights bill that drew Chinese criticism, and new US tariffs on Chinese goods are due December 15.

- Date: 2019-11-20 · published 2019-11-20T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/56277-emerging-markets-mexican-peso-leads-losses-in-latam-fx-on-u-s-china-trade
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A delayed US-China phase one deal raises the risk of tariffs and weaker Chinese purchases of US farm goods, a bearish factor for US soybeans and other ag exports, while risk-off flows hit tariff-sensitive currencies.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-05-14 | [US-China trade stand-off and implications for FX markets \| Lombard Odier](https://feedsoft.ai/events/8442-us-china-trade-stand-off-and-implications-for-fx-markets-lombard-odier.md) | +5.2% | +8.6% |
| SOY | 2017-01-26 | [America's farmers stand to lose the most in a China trade war](https://feedsoft.ai/events/72863-america-s-farmers-stand-to-lose-the-most-in-a-china-trade-war.md) | -1.8% | -4.1% |
| SOY | 2019-08-27 | [Forex markets: US-China trade tensions in focus](https://feedsoft.ai/events/57811-forex-markets-us-china-trade-tensions-in-focus.md) | +0.3% | +4.7% |
| SOY | 2020-01-16 | [China's 'market condition' caveat on U.S. ag purchases adds to trade deal doubts](https://feedsoft.ai/events/54944-china-s-market-condition-caveat-on-u-s-ag-purchases-adds-to-trade-deal-doubts.md) | -2.1% | -3.5% |
| SOY | 2018-08-11 | [China says U.S. farmers may never regain market share lost in trade war - POLITICO](https://feedsoft.ai/events/63420-china-says-u-s-farmers-may-never-regain-market-share-lost-in-trade-war-politico.md) | +4.2% | -1.5% |
| CORN | 2019-05-14 | [US-China trade stand-off and implications for FX markets \| Lombard Odier](https://feedsoft.ai/events/8442-us-china-trade-stand-off-and-implications-for-fx-markets-lombard-odier.md) | +7.0% | +11.7% |
| CORN | 2017-01-26 | [America's farmers stand to lose the most in a China trade war](https://feedsoft.ai/events/72863-america-s-farmers-stand-to-lose-the-most-in-a-china-trade-war.md) | +1.9% | +1.7% |
| CORN | 2019-08-27 | [Forex markets: US-China trade tensions in focus](https://feedsoft.ai/events/57811-forex-markets-us-china-trade-tensions-in-focus.md) | -0.2% | +1.7% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/emerging-markets-mexican-peso-leads-191646805.html

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