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Most emerging market currencies rose on Monday after Iran's supreme leader authorized the government to hold peace talks, easing concerns about the Middle East conflict. Chile, Hungary and South Africa were among the strongest gainers, and the Mexican peso posted its biggest rise since April.
Brent crude fell about 11% to near $104 a barrel, while Asian currencies retreated.
Lower crude prices reduce energy and fertilizer cost pressure on feed producers and ease the risk premium on energy-linked inputs. A stronger peso and other emerging currencies can also affect the cost of imported feed ingredients for buyers in those markets.
bloomberglinea.comRay Ndlovu, Prima Wirayani, Maria Elena VizcainoNov 3, 2026After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
Not enough comparable past events yet for a historical read.
After 33 past bearish geopolitics events, US Dollar (Broad) moved a median -0.6% over 5 sessions (33% higher; middle half -1.5% to +0.2%), 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.
