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Exante Data CEO Jens Nordvig says the peso could lose up to another 10% if the US withdraws from Nafta. He adds that the dollar could also be hit against major currencies by US protectionism.
The Canadian dollar fell 1% after a Reuters report that Canadian officials expect Trump to withdraw from Nafta.
A peso drop would raise the cost of US-priced feed for Mexican buyers. A weaker dollar would generally support dollar-priced commodities, which would offset some of that effect.
cnbc.comPatti DommJan 10, 2018Not enough comparable past events yet for a historical read.
After 39 past bearish trade events, US Dollar (Broad) moved a median -0.4% over 5 sessions (26% higher; middle half -1.1% to +0.0%), and -0.8% 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.
