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Mexico announced it will extend its 15% steel tariffs for six months on countries without a trade agreement, with textile tariffs of 25-30% also planned. The peso fell to 19.24 on the news but recovered to about 19.13 by the close.
Mexico's fourth-quarter GDP grew 0.2% quarter on quarter, slightly below expectations.
The tariff extension is a trade-policy shift that could affect Mexico's import costs and trade relations, but it does not directly touch feed commodities. Any peso weakness would be short-lived unless the policy escalates.
forexcrunch.comFX StreetFeb 25, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
