Author: FX

It was a positive day for US equities until Trump blew it up at 10:30 am ET with a tweet threatening new tariffs on China because of rare earth controls. Details have been light since then but the market isn’t waiting for details. The last few months have been a smashing success for bulls and at this point, asset managers might not want to risk ruining the year. That makes it a fairly easy decision to take profits and the Nasdaq fell more than 3%.In an ominous sign, US stock markets closed on the lows.Closing changes:Nasdaq -3.5%S&P 500 -2.7%DJIA -1.9%Russell…

It turns out you can put Humpty Dumpty together again.Lecornue resigned at the start of the week but he’s been re-appointed and is tasked with former a new French government, according a report in Elysee.Between this, Japan and Trump it’s going to be an interesting weekend in politics. This article was written by Adam Button at investinglive.com. Source link

Oil was having a rough day before Trump threatened China with fresh tariffs. It was bouncing around $60 and the lowest levels since May. But with the rout in markets following the Trump-China spat, we have crude down $2.60 to $58.91. That’s the lowest since May and the second-lowest weekly close in four years.The combination of OPEC rapidly increasing production and another trade fight is a brutal combination for a market that’s already oversupplied. I earlier highlighted an Goldman Sachs note forecast 2 million barrels per day of excess production from now through 2026. That has to find somewhere to…

Alibaba (BABA) stock traded lower for its sixth straight session on Friday as shares of the Chinese mega-cap gave up more than 8% to momentarily trade below $159 for the first time since September 16. US President Donald Trump sent the market off the cliff on Friday morning by threatening a renewed trade war with the globe’s second-biggest economy. His voluminous social media post below comes in response to China whispering about possible export limits on rare earth metals used in a host of strategic industries.President Donald Trump’s Truth Social post / October 10, 2025The key section is: “One of…

Gold price rises during the North American session on Friday amid an escalation of the trade war between the US and China. This, the US government shutdown and expectation for further easing by the Federal Reserve (Fed) keep the yellow metal bid. XAU/USD trades at $3,997, up 0.60%, at the time of writing.Bullion’s boosted by escalating tariff threats and prolonged Washington deadlock reigniting risk aversionRisk aversion is the name of the game after US President Donald Trump warned of possible fresh duties on China, as the latter threatens to impose export controls on rare earths. Trump added that there is…

The S&P 500 is down 2% at the moment and if it closes that way, it will be the first 2% (or more) loss since April 4. That was the Liberation Day rout and included a 6% closing decline. The worst day since then was August 1, when there was a 1.6% closing decline.Back in February, we started to have larger market declines as the tariff worries began but it’s been an impressive 30% rally from the April 7 closing low.SPX dailyThere is no doubt this is another TACO trade but it’s a question of where the dip is to…

China hits back on US port fees with retaliatory levies Source link

West Texas Intermediate (WTI) US Crude Oil prices collapsed below $60.00 per barrel on Friday, tumbling over 4% in Oil’s worst single-day performance since June’s sharp pullback. Hopes for a cooling of tariffs between the US and China were swept off the table to end an otherwise unremarkable week, souring already-weak investor sentiment amidst an extending US government shutdown.More tariffs incoming?US President Donald Trump publicly pulled out of an upcoming trade meeting between himself and Chinese President Xi Jinping, and vowed via social media proclamation to impose additional steep import tariffs on all goods being imported into the US from…

The Australian Dollar (AUD) slumps against the US Dollar (USD) on Friday, with AUD/USD plunging to over one-month lows after US President Donald Trump threatened a “massive increase” in tariffs on Chinese imports, reigniting fears of a renewed trade war between the world’s two largest economies.Given Australia’s close trade ties with China, the comments weighed heavily on the Aussie as traders trimmed exposure to risk-sensitive currencies. At the time of writing, AUD/USD trades around 0.6484, down nearly 1.0% on the day and on track to post a weekly loss.At the same time, the Greenback also fell against its major counterparts,…

GBP/USD tumbles to two-month low amid UK fiscal worries and US Dollar strength GBP/USD retreats toward 1.3280 during Friday’s US session, marking a fresh two-month low. The US Dollar (USD) remains firm, supported by increased safe-haven demand amid political uncertainty in Japan and France. The US Dollar Index (DXY) holds near Thursday’s two-month high of 99.56, limiting any rebound of the Cable. Despite rising expectations for further interest rate cuts by the Federal Reserve (Fed) before year-end, the Greenback remains in demand. According to the CME FedWatch tool, markets assign over an 80% chance of a 50-basis-point rate cut by…