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The Mexican peso weakened on Monday, pushing USD/MXN back above 19.00 after a two-day rally. Concerns about the US-Mexico-Canada trade deal weighed on the peso, after Senator Grassley demanded that Trump cancel tariffs or the deal would fail in Congress, and Speaker Pelosi signaled no vote without changes.
US personal spending rose in March while inflation came in below expectations.
A weaker peso lowers the dollar cost of Mexican feed and grain imports only modestly, but trade-deal uncertainty raises the risk premium on North American agricultural trade flows, which matter to US feed-grain exporters selling into Mexico.
forexcrunch.comFX StreetApr 29, 2019
octaafrica.netApr 29, 2019Not enough comparable past events yet for a historical read.
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.
