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The Mexican peso fell sharply as the fifth round of NAFTA negotiations began without cabinet-level officials for the first time. USD/MXN rose to 19.37, its highest level since March 15, after US Commerce Secretary Wilbur Ross said the US could pressure Mexico and Canada.
The peso also weakened as the dollar strengthened against emerging-market and commodity currencies.
NAFTA uncertainty raises the risk of tariffs or disruption to US farm exports to Mexico, a major buyer of US corn and soymeal. A weaker peso raises the local-currency cost of imported feed ingredients.
octaafrica.netNov 15, 2017Not enough comparable past events yet for a historical read.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
