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Mexico's finance policymakers said the central bank will offer up to $20 billion in currency hedges, a major change in FX policy. The peso surged 1.8 percent, briefly breaking 20 per dollar for the first time since Trump's election.
A firmer peso lowers the local cost of US feed grain and meal imports, supporting Mexican demand, though the effect on grain prices is indirect.
eluniversal.com.mxRedacción El UniversalFeb 22, 2017Not enough comparable past events yet for a historical read.
After 78 past neutral macro events, Corn moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), and -0.6% 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.
