# US FX Handover Loonie Dumps Yen Pumps on Trumps Mexican Standoff

> U.S. Treasury yields fell sharply after President Trump moved to impose escalating tariffs on Mexican imports, with the 10-year yield dropping to 2.14%. Core PCE inflation came in at 1.6% as expected, and Canada's Q1 GDP missed expectations, leaving the loonie the weakest major currency on the day as oil fell nearly 5%.

- Date: 2019-05-31 · published 2019-05-31T12:00:00.000Z
- Category: trade · region US · magnitude high
- Page: https://feedsoft.ai/events/59322-us-fx-handover-loonie-dumps-yen-pumps-on-trumps-mexican-standoff
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Escalating tariffs on Mexico threaten a major U.S. feed and meat trading partner, and the drop in oil prices lowers energy-linked costs and pressures the Canadian dollar.

## Read by commodity

- WTI: bearish ▼
- HOGS: bearish ▼
- USDCAD: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-05-31 | [Stock Up on Avocados – Mexico Tariffs Announced by Trump - Mansfield Energy](https://feedsoft.ai/events/10410-stock-up-on-avocados-mexico-tariffs-announced-by-trump-mansfield-energy.md) | -6.9% | +4.9% |
| WTI | 2019-05-29 | [Loonie falls on oil extends losses](https://feedsoft.ai/events/59326-loonie-falls-on-oil-extends-losses.md) | -9.3% | -2.2% |
| WTI | 2019-08-01 | [Oil plunges, down more than 6% after Trump adds tariffs on China](https://feedsoft.ai/events/8495-oil-plunges-down-more-than-6-after-trump-adds-tariffs-on-china.md) | -12.7% | -4.7% |
| WTI | 2025-04-07 | [Oil drops to four-year low, metals fall on recession fears](https://feedsoft.ai/events/6319-oil-drops-to-four-year-low-metals-fall-on-recession-fears.md) | -0.8% | -6.8% |
| WTI | 2025-04-04 | [Oil dives 7% to lowest in over 3 years on China's tariffs](https://feedsoft.ai/events/6315-oil-dives-7-to-lowest-in-over-3-years-on-china-s-tariffs.md) | -10.2% | -12.0% |
| HOGS | 2017-01-31 | [Trump Puts US Food, Farm Companies on Edge Over Mexico Trade](https://feedsoft.ai/events/72499-trump-puts-us-food-farm-companies-on-edge-over-mexico-trade.md) | +4.7% | +5.4% |
| HOGS | 2018-05-31 | [Trump administration will put steel and aluminum tariffs on Canada, Mexico and the EU](https://feedsoft.ai/events/65224-trump-administration-will-put-steel-and-aluminum-tariffs-on-canada-mexico-and.md) | +2.2% | +9.8% |
| HOGS | 2025-02-28 | [Mexican Peso plunges as Trump confirms March tariffs, Peso faces weekly losses](https://feedsoft.ai/events/26262-mexican-peso-plunges-as-trump-confirms-march-tariffs-peso-faces-weekly-losses.md) | +1.6% | +1.6% |

## Sources

- forex.com: https://www.forex.com/en-us/news-and-analysis/us-fx-handover-loonie-dumps-yen-pumps-on-trumps-mexican-standoff/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.