• USD/MXN eased on Tuesday as markets grew less sensitive to U.S. tariff threats, with investors awaiting inflation data on Wednesday.
• A White House official confirmed the 25% tariffs on steel and aluminium imports will take effect on March 4.
•Canada, Brazil, Mexico, South Korea, and Vietnam are the top steel exporters to the U.S., according to the American Iron and Steel Institute, while Canada remains the leading supplier of imported aluminum.
• Markets brace for increased volatility with each of Trump’s announcements, as concerns grow over retaliatory measures and the potential impact on emerging market assets.
• At GMT 16:46, the pair was trading down 0.25% at 20.535
• Immediate resistance is located at 20.738 (50%fib), any close above will push the pair towards 20.823(Higher BB).
• Support is seen at 20.472(61.8%fib) and break below could take the pair towards 20.271(Lower BB).
Recommendation: Good to buy around 20.500 with stop loss of 20.4050 and target price of 20.800
