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The Mexican peso and Turkish lira were the worst performers of 2016, with USD/MXN up about 20 percent from a year earlier and 40 percent since January 2015. The peso ended the year consolidating above 20.00 per dollar after breaking record levels following the US election.
A weak peso keeps dollar-denominated imports of feed grains and ingredients expensive for Mexican buyers, while the Brazilian real's relative strength is a separate factor for South American feed supply.
octaafrica.netDec 30, 2016Not enough comparable past events yet for a historical read.
After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% 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.
