# USD/MXN gains momentum and rises to 19.10 after government presents a new plan for Pemex — Octa

> Mexico's government unveiled a PEMEX business plan that includes reducing the company's tax burden by about $7 billion over two years and funding a new refinery costing up to $8 billion. The peso fell across the board after the plan was released, and USD/MXN rose to 19.09 as US retail sales also beat expectations and lifted the dollar.

- Date: 2019-07-16 · published 2019-07-16T12:00:00.000Z
- Category: policy · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/58326-usd-mxn-gains-momentum-and-rises-to-19-10-after-government-presents-a-new-plan
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Investor doubts about PEMEX and the peso's weakness raise the cost of imported feed inputs priced in dollars for Mexican buyers. The impact on grain prices is limited because the driver is domestic energy policy.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/725880/

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