USD/MXN down -2.02% on the day on Trump's alfa-male boasting

Ross J Burland FXStreet

Currently, USD/MXN is trading at 18.8903, down -2.02% on the day, having posted a daily high at 19.0760 and low at 18.7900

USD/MXN took a beating after Trumps alfa-male boasting and feminist blunder that was caught on tape and a recording from over a decade ago that has outraged observers and even some of his own party that are abandoning just a month away from the elections scheduled for Tuesday, November 8th. As a result of this, MXN is much stronger than it was on Friday as markets get behind the notion that Clinton will win this campaign which is an obvious plus for not just the U.S. dollar, but for the Mexican peso too considering Trumps standing on relations with Mexico.

USD/MXN levels

With spot trading at 18.8929, we can see next resistance ahead at 18.9759 (Hourly 20 EMA), 18.9830 (Daily Open), 18.9862 (Daily Classic S3), 19.0177 (Weekly Classic S2) and 19.0760 (Daily High). Support below can be found at 18.8816 (Weekly Classic S3), 18.8139 (Monthly Low), 18.7900 (Daily Low), 18.7403 (Daily 100 SMA) and 18.3311 (Daily 200 SMA).

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD retreats below 1.1800 as EU-US trade relations sour

EUR/USD loses its traction and retreats below 1.1800 following the earlier climb. The data from Germany highlighted a modest improvement in business sentiment in February but failed to help the Euro as investors assess the US-EU trade relations following Trump's global tariff hike announcement.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold climbs above $5,100 on broad USD weakness

Gold sticks to its bullish bias near the monthly above $5,100 on Monday. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.