Trump says the US has ‘indefinitely suspended’ planned tariffs against Mexico after reaching a deal | Metals Mine

Trump says the US has ‘indefinitely suspended’ planned tariffs against Mexico after reaching a deal | Metals Mine

Trump says the US has ‘indefinitely suspended’ planned tariffs against Mexico after reaching a deal

From cnbc.com

President Donald Trump said on Friday that the United States and Mexico have signed an agreement to avoid tariffs that were scheduled to go into effect on Monday. Trump said that Mexico in return has agreed to take “strong measures” to stop illegal migration from coming through the U.S. southern border. Last week, Trump had threatened to impose 5% tariffs on all Mexican imports starting June 10 if Mexico didn’t do more to stop illegal immigration. Those tariffs were set to gradually increase to 25% over the coming months if Mexico did not meet the White House’s demands. The president’s abrupt decision to ... (full story)

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Jun 8, 2019 10:50am

Quoting Foxikus

Disliked

{quote} why? america has shown in recent days how the dollar is used for blackmail other countries , the world is ridding the dollar and buying gold. it is a consequence of American foreign policy. the world has concluded that the dollar is too dangerous, makes states slaves. maybe there will be a small gap but in the direction of the dollar to (!) it will not change anything

Ignored

Dude, the foreign exchange investors are hunting profits and they do what they need to do in order to make profits and get richer with every day that passes. They do not foken care about your ideology.

My question for you is - Are you politician or are you investor?

If you are a forex investor you need to think quick profits and don’t care about who’s making whom a slave.

If you are a business investor you need to think profits on a wider and a deeper basis and still not care much about the ideology that you have.

You will not be a successful trader if you make your trading decisions based on what you wrote in your post.

5

Jun 8, 2019 12:34pm

Quoting NotAtrader

Disliked

{quote} 10 pips news? Maybe maybe. Time will show. However when the announcement about imposing tariffs against Mexico came out, it wasn’t 10 pips news. Why the opposite is now 10 pips news for you? Mexico is not China? Well it certainly isn’t. However running a healthy economy in Mexico is of fairly significant importance for USA and hence for the rest of the world. If Mexico goes down, USA will follow. Do you have any kind of knowledge about how much Mexico is involved in US economy (both legally and illegally)? I can brief you with some fact....

Ignored

Well said...it is this type of knowledge about fundamentals that actually keeps one on the 5% of successful traders.

4

Jun 8, 2019 4:55am

Quoting OnlineAddict

Disliked

Mexico is not China, its meaningless market-wise, this is "10 pip" news.

Ignored

10 pips news?
Maybe maybe. Time will show. However when the announcement about imposing tariffs against Mexico came out, it wasn’t 10 pips news. Why the opposite is now 10 pips news for you?

Mexico is not China? Well it certainly isn’t. However running a healthy economy in Mexico is of fairly significant importance for USA and hence for the rest of the world. If Mexico goes down, USA will follow. Do you have any kind of knowledge about how much Mexico is involved in US economy (both legally and illegally)? I can brief you with some fact.

Many Us factories and their production is exported to Mexico. Most of the car production is exported to Mexico. Much of the light and heavy industry in USA depends on parts and materials produced and imported from Mexico.

If Mexico goes down, USA will follow. Then I suppose you know what will happen to the global economy. This is exactly the reason why economy experts around the world began to talk about the global economy slowing down first when Trump announced tariffs against Mexico.

So yes Mexico is not China and you are as usual completely wrong.

3

Jun 8, 2019 1:38pm

Quoting Foxikus

Disliked

and that is why 95% of Forex traders are out of business because they are only interested in fast profit and do not see the context,

Ignored

Actually I don't think too many traders are out of business because they took fast profits....

Quoting Foxikus

Disliked

see patern and do not understand that the patern was created with somebody with a specific goal.

Ignored

Actually patterns display the PAST. Most patterns cannot be recognized until AFTER the move has been completed - UNLESS you are discussing EW theory and Fib patterns.

Quoting Foxikus

Disliked

As a trader I am interested in where the water flows from to and where it flows. and now flowing from dollar assets to precious metals, this trend will take several years.

Ignored

So you trade on a yearly basis? Good for you. I trade off a daily and hourly chart. Why? Water may flow from North to South but there are many times when it flows East and West and well.....Price Action is where I lie and wait.....

3

Jun 8, 2019 3:43am

Mexico is not China, its meaningless market-wise, this is "10 pip" news.

3

Jun 7, 2019 9:22pm

I knew it! Tariffs swaying back and forth in the wind like a bad toupee.

3

Jun 7, 2019 11:36pm

Quoting Zonny

Disliked

{quote} Omg does this mean gold will GAP down or GAP up in Monday I have a buy position at 1345

Ignored

As of right now, a gap down in gold should be expected. Gold was rallying on uncertainty and risk tariffs would bring to the economy. Suspending them will calm fears and increase risk appetite, sending gold lower. How much lower? That's going to be interesting.

2

Jun 8, 2019 2:08am

Quoting atillaken

Disliked

{quote} nope... its already priced in. DXY will continue its correction till 92

Ignored

Deal with Mexico already priced in? When did that happen?

The DXY has been falling with almost no return since Trump announced that he will impose tariffs agains Mexico.

PS: I don’t trade DXY, but I am opened longs on USDCHF late Friday.

2

Jun 8, 2019 4:04am — Edited

IMO, along with Mexico tariff suspension, the equities still grows assimilating in the price an imminent cut in interest rates by the Fed very soon (!) ...(FOMO buy?)
But this positive sentiment was not seen on the dollar as well, after extremely weak NFP report.
Not tricky at all, as long as the traders are selling like crazy the USD "traditionally" if bad payrolls and bad wages.

1

Jun 8, 2019 2:55am

Quoting NotAtrader

Disliked

{quote} Deal with Mexico already priced in? When did that happen? The DXY has been falling with almost no return since Trump announced that he will impose tariffs agains Mexico. PS: I don’t trade DXY, but I am opened longs on USDCHF late Friday.

Ignored

If anything the US/China trade war has been priced in.....but Gold and Stocks rallied and dropped when talks around Mexican tarrifs were mentioned by Trump and they subsequently dropped and rallied when there was a supposed deal/cooperation between the two.

So im looking a scenario where gold would drop and stocks rally, but with limited upside and downside due to overall global risk pertaining to on going China tarrifs

1

Jun 8, 2019 10:53am

Quoting NotAtrader

Disliked

{quote} Dude, the foreign exchange investors are hunting profits and they do what they need to do in order to make profits and get richer with every day that passes. They do not foken care about your ideology. My question for you is - Are you politician or are you investor? If you are a forex investor you need to think quick profits and don’t care about who’s making whom a slave. If you are a business investor you need to think profits on a wider and a deeper basis and still not care much about the ideology that you have. You will not be a successful...

Ignored

Well put.

The fastest way to drain an account is to trade ideology instead of price action.

1

Jun 8, 2019 12:39pm

Quoting OnlineAddict

Disliked

Mexico is not China, its meaningless market-wise, this is "10 pip" news.

Ignored

Half-truth.

USDMXN is a sensitive pair that moves because of USD; therefore, any market moving news for USD will create a larger move for the pair.

1

Jun 8, 2019 12:55pm

I am looking deeper into this trade war and have a theory. There may be an underlying reason as to why people do certain things and I like to look at the possibilities. Again it is just a theory.

US is on a trade war with China. Although Trump is on a trade war with the world...it is this one with Mexico that has me wondering if Trump did this in order to show "the world" how to deal with these trade wars.

Mexico was an easy fix...neither US nor Mexico would win if tariffs were imposed...but Mexico also benefits from playing easy and making deals with US.

So this may well be a way to show China (and the World) that countries will benefit if they come to agreement with US and avoid tariffs.

1

Jun 8, 2019 1:32pm

Quoting Mundo

Disliked

I am looking deeper into this trade war and have a theory. There may be an underlying reason as to why people do certain things and I like to look at the possibilities. Again it is just a theory. US is on a trade war with China. Although Trump is on a trade war with the world...it is this one with Mexico that has me wondering if Trump did this in order to show "the world" how to deal with these trade wars. Mexico was an easy fix...neither US nor Mexico would win if tariffs were imposed...but Mexico also benefits from playing easy and making...

Ignored

The US/China trade war is about more than trade, it was about jobs, intellectual property rights, sovergn influences, etc.,

The Trump tariff against Mexico was nothing more than a punitive act designed to cause a certain and specific behavior (i.e., Mexico shoring up their southern border).

Your theory about Trump showing China/world how to give and take is a very interested take and I fear too deep for the POTUS but I like it...

1

Jun 8, 2019 1:44pm

Quoting fxsport

Disliked

{quote} The US/China trade war is about more than trade, it was about jobs, intellectual property rights, sovergn influences, etc., The Trump tariff against Mexico was nothing more than a punitive act designed to cause a certain and specific behavior (i.e., Mexico shoring up their southern border). Your theory about Trump showing China/world how to give and take is a very interested take and I fear too deep for the POTUS but I like it...

Ignored

Yeah I like to have all options and possibilities on the table. It is easier to manage things when having the knowledge of it. I'd rather be prepared than have things take me by surprise...

POTUS not only one deciding things...these people know more than we give them credit...they certainly do not leave any rocks unturned.

1

Jun 8, 2019 1:41am

Quoting afevir

Disliked

another news was published more than tomb with force this of Mexico, there will be no fall of gold, and forexfactory has not yet published it

Ignored

What news is that could you link it ?

1

Jun 8, 2019 1:38am — Edited

another news was published more than tomb with force this of Mexico, there will be no fall of gold, and forexfactory or https://www.metalsmine.com/ has not yet published it

1

Jun 8, 2019 1:42am

https://www.cnbc.com/2019/06/08/reuters-america-update-1-mnuchin-says-main-progress-on-u-s-china-trade-to-be-at-trump-xi-summit.html?&qsearchterm=Secretary%20Mnuchin

1

Jun 8, 2019 2:08am

It will only affect usd/Mexican peso..

1

Jun 8, 2019 12:59am

LOL. Trump must be under the impression that Mexico is going to pay for the border wall.

1

Jun 7, 2019 11:03pm

Quoting MzansiObi

Disliked

Lol.....there's still plenty of time for PoTuS to get bored over the weekend and post something else on twitter......maybe this time about EU.....India.....AuS......or the usual suspects... CHINA 😂😂😂

Ignored

Plenty of time, I agree. But if these tariffs are suspended, I don't see how gold doesn't drop hard.

Jun 8, 2019 2:00am

Quoting afevir

Disliked

https://www.cnbc.com/2019/06/08/reuters-america-update-1-mnuchin-says-main-progress-on-u-s-china-trade-to-be-at-trump-xi-summit.html?&qsearchterm=Secretary%20Mnuchin

Ignored

I am sure you either didn’t read or you did no understand the article.

Jun 8, 2019 1:01pm

Quoting Mundo

Disliked

{quote} Half-truth. USDMXN is a sensitive pair that moves because of USD; therefore, any market moving news for USD will create a larger move for the pair.

Ignored

There were many positive Mexico deal news during the week and the market barely moved each time. Like I said...its meaningless, it can't change the chart, fundamentals are good only to fool traders, big boys couldn't care less about them. Everyone and their mother are short now...most are stuck in shorts from 100 pips ago and more, of course those will be desperate and trying to excuse their trade and look for hope. Dollar is going to be dumped even more this year, no way around that.

Jun 8, 2019 1:49pm

Quoting Mundo

Disliked

I have posted the same for a week now. But it will not be a straight line...I see it putting up a fight for now. Until the inevitable. Wish you well.

Ignored

I see it the same...I am expecting a correction also. Medium to long term I expect a drop, though.

Jun 8, 2019 11:15pm

Quoting fxwinnerz

Disliked

All USD pairs will open gap up Sunday evening

Ignored

mexico is minos but focus on china what they do ? all ready china said usa/trump un trusted so they will definitely slap today or tomorrow.who cares if you know how to make money.i am forex trader and i love volatility and chaos .remember only because of chaos and volatility ,this market is so so interesting...

Jun 9, 2019 3:51pm

Quoting NotAtrader

Disliked

10 pips news? Many Us factories and their production is exported to Mexico. Most of the car production is exported to Mexico. Much of the light and heavy industry in USA depends on parts and materials produced and imported from Mexico. If Mexico goes down, USA will follow. Then I suppose you know what will happen to the global economy. So yes Mexico is not China and you are as usual completely wrong.

Ignored

So we have a gap of 10 pips. As usual, you were just talk and no clue and as usual you were wrong.

Jun 10, 2019 12:42am

Quoting OnlineAddict

Disliked

{quote} So we have a gap of 10 pips. As usual, you were just talk and no clue and as usual you were wrong.

Ignored

I don’t know what you are looking at, but my GU and EU charts are bearish and already 30-40 pips down.
The result is: I am making profit and you are losing.

Jun 7, 2019 10:55pm

Lol.....there's still plenty of time for PoTuS to get bored over the weekend and post something else on twitter......maybe this time about EU.....India.....AuS......or the usual suspects... CHINA 😂😂😂

1

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Jun 8, 2019 1:03pm

Quoting Elements

Disliked

LOL. Trump must be under the impression that Mexico is going to pay for the border wall.

Ignored

This had more to do with Mexico's border with Guatemala and the influx of migrants from Central America. That wall you speak of is another issue.

Jun 8, 2019 1:24pm

Quoting OnlineAddict

Disliked

{quote} There were many positive Mexico deal news during the week and the market barely moved each time. Like I said...its meaningless, it can't change the chart, fundamentals are good only to fool traders, big boys couldn't care less about them. Everyone and their mother are short now...most are stuck in shorts from 100 pips ago and more, of course those will be desperate and trying to excuse their trade and look for hope. Dollar is going to be dumped even more this year, no way around that.

Ignored

I rather look at the positive side of it...I say news completes the pattern. That is why sometimes the reaction is opposite of the news. I use news to look for the spikes before the actual direction.

Regarding USDMXN well I need to know my currency inside and out...maybe you know something I don't...

quote- "Dollar is going to be dumped even more this year, no way around that."
I have posted the same for a week now. But it will not be a straight line...I see it putting up a fight for now. Until the inevitable.

Wish you well.

Jun 9, 2019 4:03pm

Quoting OnlineAddict

Disliked

{quote} So we have a gap of 10 pips. As usual, you were just talk and no clue and as usual you were wrong.

Ignored

Take another look...

Quoting Mundo

Disliked

{quote} Half-truth. USDMXN is a sensitive pair that moves because of USD; therefore, any market moving news for USD will create a larger move for the pair.

Ignored

I know this pair...

Jun 8, 2019 7:49am

Quoting Zonny

Disliked

{quote} Omg does this mean gold will GAP down or GAP up in Monday I have a buy position at 1345

Ignored

It will be small gap down. Mate better not to keep any position open or pending over weekend. Its been over 6 months big news are posted in the weekend!! causing gaps on Monday open.

Jun 9, 2019 1:55am

As long as stocks keep getting hammered , WH will use such statements to keep making news for stocks so that they don't drown further. This is the second time POTUS tone got soften on tariffs after s&p500 got hammered.

Jun 8, 2019 10:25am

Quoting russeloscar1

Disliked

USD pairs should have big gains, USD up.

Ignored

why? america has shown in recent days how the dollar is used for blackmail other countries , the world is ridding the dollar and buying gold. it is a consequence of American foreign policy. the world has concluded that the dollar is too dangerous, makes states slaves. maybe there will be a small gap but in the direction of the dollar to (!) it will not change anything

Jun 8, 2019 10:59am

and that is why 95% of Forex traders are out of business because they are only interested in fast profit and do not see the context, see patern and do not understand that the patern was created with somebody with a specific goal.

As a trader I am interested in where the water flows from to and where it flows. and now flowing from dollar assets to precious metals, this trend will take several years.

Jun 8, 2019 7:51am

I think gold will definitely tinker down from the high of 1340 back to the low 1300 region.

1

Jun 8, 2019 8:10am

because of weekend news,gap will be big

1

Jun 8, 2019 8:48am

Quoting minaung

Disliked

you believe market will forget rate cut news? every things depend on rate cut.

Ignored

at least 200 points gap

1

Jun 7, 2019 11:11pm

Quoting EventsTrader

Disliked

{quote} Plenty of time, I agree. But if these tariffs are suspended, I don't see how gold doesn't drop hard.

Ignored

Omg does this mean gold will GAP down or GAP up in Monday I have a buy position at 1345

Jun 8, 2019 1:44am

Quoting afevir

Disliked

https://www.cnbc.com/2019/06/08/reuters-america-update-1-mnuchin-says-main-progress-on-u-s-china-trade-to-be-at-trump-xi-summit.html?&qsearchterm=Secretary%20Mnuchin

Ignored

So there will be no GAP down for gold ? You sure ?

Jun 9, 2019 4:13am

Will be interesting to see what the gap will be. This news happened at the start of the weekend so lot of "gap" time for the markets to have fully digested the news. Already some grumble about Mexico not agreeing to be buying more farm goods, in contradiction to Trump's declaration on Saturday.

Jun 8, 2019 6:49am

What this does do is demonstrate that North America has a unified view about the importance of cooperation between not only US and Mexico but US and Canada. Unified North America and Trump using Tariffs as economic stick (thinking of Teddy Roosevelt's bully pulpit) now is template for Trade friction resolution.

Couple this with current Political shift occurring in South America and the Americas will be formidable.

Success breeds increased leverage to use in other trouble spots being focus on Asia and Europe.
Very positive for USD.

1

1

Jun 7, 2019 10:44pm

Oh boy.

Attached Image

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Jun 9, 2019 11:08am

Quoting pridolfx

Disliked

{quote} but question is- up or down😎

Ignored

Looking at the left gives you the answer to “”Up or Down?”” !!!

Jun 7, 2019 11:56pm

Quoting Zonny

Disliked

{quote} Omg does this mean gold will GAP down or GAP up in Monday I have a buy position at 1345

Ignored

Zonny, what prompted the you to buy that high up?

Jun 8, 2019 2:01am

with this news there will be no changes, there is still what they say in the G20 that can even the Iran issue and make things worse

Jun 8, 2019 6:25am

Only postponed, and on the solicitation of an adviser - does not lead the war on two fronts.
no hope with him

Jun 8, 2019 1:35am

Quoting fxwinnerz

Disliked

All USD pairs will open gap up Sunday evening

Ignored

nope... its already priced in. DXY will continue its correction till 92

Jun 8, 2019 8:18am

When the news first came out the Dow only went down about 200 points but gain over 1000 points since then. Is it going to gap up another 1000 pts at open tomorrow 🤣

Jun 9, 2019 6:54am

Mexico is not China, its meaningless market-wise, this is "5 pip" news.

Jun 9, 2019 10:32am

Quoting fxwinnerz

Disliked

All USD pairs will open gap up Sunday evening

Ignored

but question is- up or down😎

Jun 8, 2019 9:54am

Also, remember that in China is already running a patriotic war against the US, everything with a hint of the dollar goes out and China on Friday was closed. we'll see what happens when china returns on Monday night

1

Jun 8, 2019 9:08am

clear false break in daily form gold,big gap is ready

Jun 7, 2019 9:40pm

All USD pairs will open gap up Sunday evening

Jun 8, 2019 12:41am

Quoting MzansiObi

Disliked

{quote} Zonny, what prompted the you to buy that high up?

Ignored

It broke the 1346 mark, thought it could close around that level then head to 1360 from there.

Jun 8, 2019 3:19am

Quoting louisfx

Disliked

It will only affect usd/Mexican peso..

Ignored

Didn’t the Mexico tariff lowered global stock markets when trump said ? So how come only usd/mxn affected?

Jun 8, 2019 7:10am

trump art of war, using trade war to cut rates to boost the stock market, then follow up by resolved trade deal to boost the stock market again 😂

Jun 8, 2019 1:47am

Quoting MzansiObi

Disliked

{quote} Zonny, what prompted the you to buy that high up?

Ignored

It may open gold with a small gap, but the purpose of gold is to change the ceiling price and test the higher numbers. Forex Bulls will work for higher numbers the next week. Also, the rise in gold just was not due to Mexico's 5% tariff. The rise in gold prices is due to an increase in US-China trade's war and US core fundementals (bad news), and also it is possible drop in dollar interest rates two times (above 87%) in 2019.

Jun 8, 2019 1:48am

I have sell gold at 1328 do you think gold will go down to this before going up to 1360
Which I can’t even afford to it

Any possibility that gold will drop hard or what the price I should get out before heading more up
Please advise

Jun 8, 2019 11:19am

Quoting Foxikus

Disliked

{quote} why? america has shown in recent days how the dollar is used for blackmail other countries , the world is ridding the dollar and buying gold. it is a consequence of American foreign policy. the world has concluded that the dollar is too dangerous, makes states slaves. maybe there will be a small gap but in the direction of the dollar to (!) it will not change anything

Ignored

I don't normally post of forex factory because I'm a technical trader and couldn't care less about fundemental news. However, here's something you need to take notice of.

1. The paper derivative gold market that you see on the screen is entirely different from the physical gold market. Just because other countries are buying physical gold, it doesn't mean the Dollar is ready to go down or is being 'ditched'.

2. This means that the banks, central banks will suppress rates and the price of gold to make as much money as possible from the 'derivative' market regardless of the movement of the dollar - although I do not believe the dollar is ready to do gown yet.

3. From a technical standpoint, I see a regular flat forming on the daily timeframe from the wave (1) impulse which completed at the February 2019 high, which would complete the wave 2 correction.

This is a money game. Regardless of what happens in the real world the markets will always be the playground for the big boys. Most money is always made the market falls... the idea is to delay that before the inevitable rise...

Jun 8, 2019 11:42am

@Foxikus, Dude why are you so stubborn? . If we are betting different position, you dont win if I dont loose and I dont win if someone else dont loose. you can be right , I can be wrong . Nobody knows 100 percent whats next trade gonna be. Its a trading game, Trade the way you want and let others trade their way.[/quote]

Jun 9, 2019 6:52am

expected the EUR will go down !!.

ECB opens for cutting rates and prevent strong Euro hurting the economy in addition to what the trade war has already done.

The pricing in starts now...

https://www.investing.com/news/econo...ources-1892409

Jun 8, 2019 8:46am

you believe market will forget rate cut news? every things depend on rate cut.

Jun 8, 2019 9:11am

the growth of US indices is due to the weakening of the USD, it is logical, the same happened on dax when the euro weakened or on FTSE when the British pound fell. and the price of gold is rising because the US dollar is falling. the weakening of the USD will be long-term and the growth of gold will also be, the limit of 1350 on gold will be broken in the next few days forever and no gold will ever return here. Gold has the advantage that it will grow even if the stock falls and also grows with the next printing of colored papers and stock rise

2

Jun 8, 2019 3:08am

What will be the impact on indices ?
Dax and Dowjones ?

Jun 8, 2019 8:46am

Quoting OnlineAddict

Disliked

Mexico is not China, its meaningless market-wise, this is "10 pip" news.

Ignored

hahaha lol

Jun 8, 2019 10:04am

USD pairs should have big gains, USD up.

Trader#B457

Jun 8, 2019 10:33am

Quoting EventsTrader

Disliked

{quote} As of right now, a gap down in gold should be expected. Gold was rallying on uncertainty and risk tariffs would bring to the economy. Suspending them will calm fears and increase risk appetite, sending gold lower. How much lower? That's going to be interesting.

Ignored

strong wind at the top of mountain

Trader#2986

Jun 8, 2019 2:08pm

Any of you even traders?

You all seem like rookies.

Yes this will affect the market on the upside.

Gold movement is a strange one now, either because of rare cut or that this market has peaked and is going down the toilet.

FED rate cut is only sign you need to acknowledge defeat. I hope we hang them after this credit bubble they created with insane valuations in the markets.

Jun 8, 2019 2:51pm

Hi, do u think we will see a big gap down on eurusd at the opening time on sunday?

Trader#5AAB

Jun 7, 2019 8:37pm

Should be a nice reversal in USD Index and rally for stocks. Until more macro data comes out to differ with that bullishness.

Trader#D0E4

Jun 8, 2019 7:49am

This is like the ultimate insider trading...

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