Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
The USD/MXN has risen by more than 5,900 pips on tariff threats
President Donald Trump announced the 5% tariffs on Mexican goods until the country stops immigrants from entering the US. The tariffs will be applied on June 10. The tariffs could rise to 25% on October 1.
The USD/MXN has risen above the resistance at 19.67. The next resistance lies at 19.97. On the flipside, bears need to pull the pair below the 19.3686, 19.2618 and 19.1417 pivot levels to take back their strength. The support lies at 19.0349.
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Last week was super intense! Geopolitical turbulence made the Russian ruble the most volatile currency. Gold rose and fell by more than 8000 points each time.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.