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USD/MXN rose for a third consecutive day to 17.78, its strongest level in a week, even as crude oil gained 3%. Mexico's CPI rose 0.24% in the first half of July, with annual inflation easing to 6.28% from 6.33%.
Peso moves affect Mexican feed import costs, and the easing inflation reduces pressure for further Bank of Mexico rate hikes, which is a currency-driven rather than crop-driven signal.
octaafrica.netJul 25, 2017Not 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.
