Author: FX
The delay is unlikely to move broad markets but adds to a pattern of Trump-era trade friction with Canada, alongside tariff hikes and threats not to renew the trade deal with Mexico and Canada. For cross-border freight and logistics operators, a further postponement of capacity relief on the busiest US-Canada freight corridor extends existing bottleneck costs, though officials frame the delay as a matter of weeks rather than a structural setback.—The US and Canada have delayed the opening of the $4.7bln Gordie Howe bridge between Detroit and Windsor after Trump raised objections, with PM Carney saying Canada agreed to take…
Trump canceled Iran strikes and signaled a deal was near, driving a reversal that sent equities surging, oil down nearly 6%, and the dollar broadly lower. Source link
AUD/USD bounces from recent lows as Stochastic turns up from oversold territory. Will buyers confirm a move toward resistance? Source link
The British Pound spent most of Thursday doing what everything else did, leaking lower while Washington and Tehran traded fire, then exploding higher when President Trump canceled the evening’s planned strikes just after 17:30 GMT and declared a deal all but done. GBP/USD gained more than a full big figure off the lows, and not one pip of it was earned in the UK.That matters more for Cable than most, because the Pound now has to defend a borrowed rally through one of the heaviest scheduled stretches on the calendar. What the geopolitical whipsaw handed over on Thursday, the data…
Trump writes:Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening. Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others. The Naval Blockade will remain in full force and effect until this Transaction is finalized — Time and place of the…
After Wednesday’s near 2% drubbing, the Dow Jones Industrial Average (DJIA) spent Thursday doing something stranger than falling: very little. A 6.5% YoY Producer Price Index (PPI) print, rising jobless claims, and a President promising to seize Iran’s main oil terminal added up to a close only fractionally lower, which says plenty about how numb this tape has become.The session was anything but calm, with an early dip below the 50,000 handle bought hard and the index running to the 50,350 area through the European morning. The 12:30 GMT data dump knocked it back toward 50,100, and a New York-open…
U.S. wholesale inflation hit 6.5% annually in May 2026 — highest since 2022 — as gasoline surged 23.4% and core producer prices posted their biggest jump in years. Source link
The Loonie rose after the BOC sounded worried about inflation, then fell when traders heard bigger warnings about Canada’s weak economy. Source link
As we look to the ECB policy decision later today, BofA is chiming in with their view on where EUR/USD looks to be headed in the months ahead.Given the circumstances with the Middle East conflict, the firm notes that there is still more potential for EUR/USD to navigate to the downside as markets underestimate the diverging paths between the euro and the dollar.”There is a case to be made for EUR/USD to potentially trade through our Q2 forecast of 1.14, which is also just below its 12-month lows. The growth divergence between the US and euro area is notable and…
Michael Pfister at Commerzbank notes the Bank of Canada (BoC) kept rates at 2.25% and sees little impetus for near-term tightening given easing core inflation and a weak real economy. Market pricing now reflects only one hike by December. He argues monetary-policy pressure on the Canadian Dollar (CAD) should ease, leaving USD/CAD direction dependent on broader US Dollar moves.BoC caution weighs on Canadian Dollar”As expected, the Bank of Canada (BoC) kept its key interest rate at 2.25% yesterday. At the same time, policymakers gave little indication that this might change in the near future.””We have argued for some time that,…