• USD/MXN edged higher on Friday as markets assessed renewed optimism around a potential resolution of the U.S.-China trade dispute and solid U.S. employment data.
• China's Commerce Ministry said Beijing is reviewing a U.S. offer for talks on Trump's steep tariffs, hinting at a possible easing in the ongoing trade tensions.
• While global markets have faced pressure in 2025 amid uncertainty over Trump’s unpredictable tariff moves, Latin American assets have mostly avoided heavy selling thanks to lower U.S. import tariffs on the region’s goods.
• U.S. nonfarm payrolls rose by 177,000 in April, following a downwardly revised gain of 185,000 in March.
• The report strengthened expectations that the Federal Reserve will keep interest rates unchanged in upcoming meetings, with potential rate cuts likely delayed until summer.
• Immediate resistance is located at 19.710(Daily high), any close above will push the pair towards 19.789(38.2%fib).
• Support is seen at 19.479 (23.6%fib) and break below could take the pair towards 19.335(Oct 15th low 24 low).
Recommendation: Good to buy around 20.900, with stop loss of 20.500 and target price of 21.300
