- The US Pres. Trump’s likely tough stand on Mexico to deter migrants grabbed the spotlight recently.
- Trump administration planning for early voting on USMCA.
- The US President’s Expected comments on Friday will be crucial to watch.
With the US President Donald Trump’s likely negative announcement for Mexico, USD/MXN surged to the day’s high of 19.19 while taking the rounds near 19.18 by the press time during early Asian session on Friday.
The Washington Post released a news report saying that the President Trump is preparing to announce new tariffs on Mexico in order to crack down migrants seeking asylum in the US.
Market sources also said that the Trump administration is planning to trigger the process that would put the latest USMCA (United States-Mexico-Canada Agreement) forward for voting in the Congress within next 30 days.
Some of the US lawmakers have already conveyed their dissent with the Trump administration’s intention to push USMCA forward while others expect the new trade agreement to raise hardships for Mexico.
The US President Donald Trump is expected to go on wires on Friday, as per Washington Post, to give details of his intention on USMCA.
Technical Analysis
Symmetrical triangle formation between 19.00 and 19.23 on the daily chart could restrict the quote’s near-term moves while 200-day simple moving average (SMA) level of 19.35 acting as strong upside resistance to watch after the pattern breakout.
Share
