Author: FX
The Copper price remains firm as refining constraints pose a risk to the electronics industry.Copper trades at $5.50, still 10% above its level on Monday, as concerns about tariffs persist.Tariff-driven supply risks raise alarm across the construction sector.Copper futures are trading near $5.50 per pound on Friday, slipping from Tuesday’s high of $5.70 on the daily timeframe. Despite the modest decline, prices remain 10% higher than Monday’s close, underscoring persistent concerns over supply disruptions tied to incoming United States (US) trade tariffs.The 50% tariff on Copper imports, announced on Wednesday and set to take effect on August 1, is aimed…
losingThe Dow Jones fell back into the weekly red zone on Friday.President Trump has stepped up fresh tariff threats, targeting Canadian goods with new import fees.Investor sentiment remains hobbled in a constantly changing trade policy environment.The Dow Jones Industrial Average (DJIA) snapped a two-day recovery on Friday, testing below the 44,400 level once again as equities grapple with a new reality where trade tariffs exist in a quantum state, prone to popping in and out of existence at a moment’s notice. President Donald Trump has been busy this week, laying out a raft of new tariff threats against a slew…
USD/CHF capped by 20-day SMA and April trendline near 0.8000.RSI hints at building bullish momentum, though still below neutral.Bearish continuation may target July lows at 0.7919 and 0.7872.The USD/CHF consolidates during the North American session, is flat below the 0.8000 figure, poised to finish the week with 0.36% gains. A risk-off mood bolstered the Greenback, which so far has recovered some ground during the current week.USD/CHF Price Forecast: Technical outlookThe USD/CHF downtrend is set to continue, so the rallies should be sold in the short term. Alongside key resistance found at the 20-day SMA at 0.8037, lies a resistance trendline…
Markets:Gold up $33 to $3355US 10-year yields up 7.1 bps to 4.42%WTI crude oil up $2.14 to $68.71S&P 500 down 0.3%USD leads, JPY lagsWe went into the day waiting for Trump’s letter to the EU with a higher tariff rate but it has yet to arrive. Reports late in the day are mixed with some saying there are no meetings planned for the weekend and others highlighting sticking points around agriculture and autos. All the reports highlight that any deal hinges on the whims of the President.The market has its own ideas and they were underscored by CAD trading the…
Bill Pulte, the Trump-selected Director of the Federal Housing Finance Agency and former chairman of Fannie May and Freddie Mac, nodded to entirely-uncomfirmed reports that Federal Reserve (Fed) Chair Jerome Powell may be considering resigning from his post as the head of the Fed.Fed head rumored to be out, but no solid sources existBill Pulte stated, “I’m encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom.”Pulte is an ardent Donald Trump supporter and believes that President Trump should have the authority to control the Fed’s…
The Reserve Bank of Australia (RBA) surprised the markets with a decision to keep interest rates on hold at 3.85% instead of cutting to 3.60%. How did our watchlist setups for this top-tier catalyst fare? Watchlists are price outlook & strategy discussions supported by both fundamental & technical analysis, a crucial step towards creating a high quality discretionary trade idea before working on a risk & trade management plan. If you’d like to follow our “Watchlist” picks right when they are published throughout the week, check out our BabyPips Premium subscribe page to learn more! The Setup What We Were…
In an interview with the Wall Street Journal, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee warned that ongoing trade policy at the hands of Trump’s constant tariff threats could hamper the ability of the Fed to deliver interest rate cuts that both the broader market and Donald Trump himself want to see.Key highlightsNew tariffs unveiled by Trump have further muddied the inflation outlook, making it more difficult for me to support the rate cuts that the president has pressed for.Over the past few months, after Trump paused the steep bilateral tariffs he proposed in April, anxiety about how…
Major US stock indices are closing the day lower. For the trading week the declines today push the indices into negative territory. For the day:Dow industrial average fell -279.13 or -0.63% at 44371.51S&P index fell -20.71 points or -0.33% at 6259.75.NASDAQ index fell -45.14 points or -0.22% at 20585.53.The small-cap Russell 2000 fared the worst today with a decline of -28.58 points or -1.26% at 2234.82.For the trading week:Dow industrial average fell -1.02%S&P index fell -0.31%NASDAQ index fell -0.08%The small-cap Russell 2000 fell -0.63%Some winners this week included:ETH/USD: +19.73% – Strongest performer; Ethereum surged as crypto sentiment improved.SoFi Technologies: +14.22%…
Trump’s tariff threats dominated FX, sending the yen tumbling while USD surged. Australia’s surprise rate hold boosted AUD. Source link
The Canadian Dollar stumbled back on Friday as tariff fears remain.Canadian labor data overshot forecasts, bolstering the Loonie.Fresh tariff threats from Donald Trump have crimped CAD gains.The Canadian Dollar (CAD) tested lower ground against the US Dollar (USD) on Friday, shedding weight despite Canadian labor data figures outperforming median market forecasts by a sizeable margin, kicking back economic downturn concerns and forcing rate watchers to trim their bets of another Bank of Canada (BoC) rate cut at the next interest rate meeting.Adding further fuel to the risk-off fires that his administration started this week, US President Donald Trump has announced…