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BBVA Research chief economist Carlos Serrano says the peso's moves against the dollar have over the past two years tracked NAFTA prospects and broader Mexico-US trade relations. He expects NAFTA uncertainty to persist and keep exchange-rate volatility elevated.
A weaker or more volatile peso raises the local-currency cost of US feed imports for Mexican buyers, which can dampen demand for US corn and soymeal. Uncertainty around NAFTA also adds risk to Mexican feed import flows.
bbvaresearch.comCarlos SerranoJul 20, 2018Not 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.
