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The Mexican peso fell more than 3% on May 31 after the U.S. announced a 5% tariff on all Mexican imports to press Mexico on migration. Banks quoted a dollar at 20.05 pesos, and the interbank rate rose to 19.74 from 19.14.
Goldman Sachs said the first 5% tariff was likely to take effect as stated, and Mexican President Lopez Obrador called for restraint.
A likely 5% tariff on all Mexican imports, rising toward 25%, threatens trade flows that include U.S. feed and food exports to Mexico. Peso weakness also raises the cost of imported feed for Mexican buyers.
mexiconewsdaily.comMND StaffMay 31, 2019Not enough comparable past events yet for a historical read.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
