USD/MXN RISES ABOVE 20.50 DUE TO RENEWED TARIFF THREATS FROM TRUMP

Tina Collins

31 Jan 2025 — 1 min read

USD/MXN RISES ABOVE 20.50 DUE TO RENEWED TARIFF THREATS FROM TRUMP

USD/MXN rises for the second consecutive session, trading around 20.70 during Asian hours on January 31, 2025.

The Mexican Peso is under pressure due to renewed tariff threats from US President Donald Trump.

Trump reiterated plans to impose a 25% import tax on all goods from Canada and Mexico, starting February 1, 2025.

The tariff threat is linked to concerns over fentanyl.

Trump also threatened 100% tariffs on BRICS nations if they attempt to challenge the US dollar with a new currency.

Economic data from Mexico revealed a 0.6% GDP contraction in Q4 2024, missing expectations and worsening the Peso's outlook.

ONDO PRICE FORECAST:ONDO CHAIN LAUNCHED WHILE TVL RISES TO $654 MILLION

Ondo Price Increase: Ondo's price is close to $1.38, an important resistance level. Possible Rally: If it stays above this level, the price may go up further. New Blockchain: Ondo launched "Ondo Chain," a new Layer 1 blockchain. Institutional Focus: This blockchain is designed for

IMF SUPPORTS BANK OF JAPAN'S MONETARY POLICY APPROACH

IMF SUPPORTS BANK OF JAPAN'S MONETARY POLICY APPROACH IMF Deputy Managing Director Gita Gopinath backs the Bank of Japan’s gradual approach to raising interest rates. IMF sees positive signs of inflation moving towards the 2% target in Japan. Service sector inflation remains below the target, according to

CANADA'S LABOR MARKET DATA IS POSITIVE, EMPLOYMENT GROWTH IS MORE THAN EXPECTED.

Canada's job market did better than expected in January. The country added 76,000 jobs, much higher than the expected 25,500 jobs. In December, 90,900 jobs were added. This shows strong job growth in Canada.

EUR/USD TECHNICAL ANALYSIS: MARKETS AWAIT NFP REPORT

The US government will release job data for January. This data includes job growth (NFP), unemployment rate, and wage changes. Traders are also watching Canada’s job market data. Comments from central bank officials will be important too.

Read more

ONDO PRICE FORECAST:ONDO CHAIN LAUNCHED WHILE TVL RISES TO $654 MILLION

IMF SUPPORTS BANK OF JAPAN'S MONETARY POLICY APPROACH

CANADA'S LABOR MARKET DATA IS POSITIVE, EMPLOYMENT GROWTH IS MORE THAN EXPECTED.

EUR/USD TECHNICAL ANALYSIS: MARKETS AWAIT NFP REPORT