European Commission President Ursula von der Leyen responded to US President Donald Trump’s ‘reciprocal tariffs’ on Thursday, noting that “US tariffs are a major blow to the world economy.” Additional quotes “The consequences will be dire for millions of people around the world.” “All businesses will suffer.” “There seems to be no order in the […]
DXY dips under the 104.00 zone as equities slide and bond yields decline. Upbeat ADP employment data clashes with market anxiety over looming US tariffs. Key resistance stands near 104.10, while bearish pressure builds below 103.90. The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, is
NZD/USD jumps to near 0.5750 as antipodeans outperform ahead of Trump’s tariff announcement. Donald Trump is expected to announce massive tariff measures for China. Trump’s tariffs will be bad for the global economy, including the US. The NZD/USD pair advances to near 0.5745 during European trading hours on Wednesday. The Kiwi pair strengthens as antipodeans
A combination of supporting factors pushes NZD/USD higher for the second straight day. A positive risk tone and Fed rate cut bets undermine the USD, lending support to the pair. The upside seems limited as traders keenly await Trump’s reciprocal tariffs announcement. The NZD/USD pair gains strong follow-through positive traction for the second straight day
EUR/USD continued to churn near the 1.0800 level on Tuesday. Markets are bracing for tariff announcements from the Trump administration on Wednesday. Economic data takes a back seat to Trump tariff stress, but NFP still looms ahead. EUR/USD stuck to familiar levels on Tuesday, churning chart paper close to the 1.0800 handle as investors brace
EUR/USD finds cushion near 1.0780 after the release of the weak US ISM Manufacturing PMI and JOLTS Job Openings data. The Eurozone inflation grows at a faster pace in March on month but cools down on a yearly basis. Market participants are mixed over whether Trump’s tariffs would lead to a recession in the US. EUR/USD recovers some
The Dow Jones rose 0.7% on Monday as other indexes struggled. The Trump administration’s self-imposed April 2 deadline for tariffs looms large. A quiet start to the week gives way to fireworks with tariffs and NFP in the barrel. The Dow Jones Industrial Average (DJIA) rebounded 300 points on Monday, clawing back ground that was
USD/CAD lacks firm intraday direction on Monday amid a combination of diverging factors. Fed rate cut bets and concerns about a slowing economy continue to weigh on the Greenback. Subdued Crude Oil prices undermine the Loonie and support the pair amid the risk-off mood. The USD/CAD pair struggles to capitalize on its modest bounce
Silver price jumps to near $34.60 as its safe-haven demand improves amid growing concerns over global trade. Investors expect that Trump’s tariffs will impact economic growth and prompt inflation across the globe. The US core PCE inflation data rose at a faster-than-expected pace of 2.8% in February. Silver price (XAG) posts a fresh five-month high
The Japanese Yen attracts some buyers following the release of a strong Tokyo CPI print. The BoJ’s hawkish stance and the risk-off mood further underpin the safe-haven JPY. The US PCE Price Index due later this Friday should provide fresh impetus to USD/JPY. The Japanese Yen (JPY) struggles to capitalize on a modest Asian session
Canadian Prime Minister Mark Carney cautioned markets that the Canadian government is both ready and willing to start retaliatory trade actions against US President Donald Trump. The White House is set to kick off a wide array of tariffs across the board that will enact sharp economic pain on all of the US’s foreign trading partners and constituents at
Japan Chief Cabinet Secretary Yoshimasa Hayashi said on Thursday that they have “once again, asked the US to exempt Japan from auto tariffs.” Further comments “US auto tariffs are extremely regrettable.” “Will continue to work closely with us and take necessary steps to resolve issue.” Meanwhile, Japanese Prime Minister (PM) Shigeru Ishiba said on Thursday,
USD/CAD falls further to near 1.4250 amid strength in the Canadian Dollar. Investors doubt that the BoC will continue reducing interest rates after the release of the hot CPI report for February. The risk sentiment remains cautious as US President Trump is expected to announce significant tariffs on April 2. The USD/CAD pair extends its
Gold price ticks lower on Wednesday amid some USD dip-buying. A positive risk tone further weighs on the safe-haven precious metal. Trade jitters, US recession fears, and Fed rate cut bets help limit losses. Gold price (XAU/USD) struggles to capitalize on the previous day’s move higher and attracts some intraday sellers during the Asian session
Citing sources, the Toronto Star reported on Wednesday that Canada could be on the lower end of the April 2 tariffs. Key quotes Nothing is guaranteed.Trump may impose three escalating levels of tariffs.Despite a recent news report, the tiered approach is not on the table, the sources said it aligns with the government’s understanding of what’s about to
United States (US) President Donald Trump spoke to reporters on Tuesday, reiterating his insistence that his administration’s tariff proposals will increase government revenues, create jobs, and counter-intuitively lower taxes, three key components of all government trade policy that tend to move in opposite directions of each other. Trump also reiterated that the European Union (EU)
USD/CAD struggles to gain any meaningful traction on Monday amid mixed cues. Fed rate cut bets prompt some USD selling and act as a headwind for the major. Softer Oil prices and Canadian politics undermine the Loonie and lend support. The USD/CAD pair kicks off the new week on a softer note amid the emergence
