Author: FX
The Mexican Peso is trading below 19.30, influenced by risk sentiment affecting emerging market (EM) currencies, even amid a weaker US Dollar. Trump’s tariff threats against the EU demonstrate growing trade tensions and an unpredictable global growth outlook.The USD/MXN has been unable to overcome Moving Average resistance. The Mexican Peso (MXN) remains steady against the US Dollar (USD) despite US President Donald Trump’s threat of sweeping tariffs on the European Union (EU).At the time of writing, USD/MXN is trading below the key psychological level of 19.30, with traders digesting developments out of Mexico and the United States.Recession fears rise on Trump’s…
The Canadian Dollar gained a full percent against the US Dollar.The Loonie climbed to seven-month peaks against the USD as trade threats resume.Canadian economic data has been thin this week, leaving CAD to follow broad-market flows.The Canadian Dollar (CAD) caught a huge boost from market-wide Greenback weakness on Friday. The Loonie climbed over a full percent against the waffling US Dollar (USD) following a fresh batch of eerily-familiar-looking tariff threats from United States (US) President Donald Trump.Canadian economic data has been strictly mid-tier for most of this trading week, leaving the Loonie at the mercy of broader investment sentiment. Next…
US President Trump appears to have green-lighted the Nippon Steel takeover of US Steel.It’s a deal that he opposed on the campaign trail and was killed by President Biden after the election. However Nippon and US Steel sued to keep the deal alive and more-recently sweetened the pot.The rejection of the deal was a low point for American capitalism and went against the idea that foreign companies should invest in the United States if they wanted to avoid tariffs. Trump wrote on Truth Social that was a ‘planned partnership’ and that sparked some confusion but it looks like this is…
During statements made to the press during his weekly Executive Order signing, United States (US) President Donald Trump added further tariff commentary, though not necessarily clarity, to his social media posts earlier on Friday.Donald Trump followed up with comments about a possible ‘deal’ between US Steel and Japan-based Nippon Steel. One of the key details missed in the Nippon-US Steel deal is that it is an acquisition bid, not a partnership or investment agreement. If the deal is allowed to go through, US Steel will become a wholly-owned subsidiary of Nippon Steel. While Nippon Steel did agree to spend $4B…
New Zealand Dollar surges as Retail Sales and US Dollar weakness drive gains.Trump’s 50% tariff threat on EU imports adds to diminishing growth prospects for the US economy, fueling USD outflows.NZD/USD rises toward 0.6000 with markets looking ahead to Fed Powell’s speech scheduled for Sunday.The New Zealand Dollar (NZD) has strengthened against the US Dollar (USD) on Friday, buoyed by positive Retail Sales data and a weaker Greenback.At the time of writing, NZD/USD is heading toward 0.6000, with intraday gains of 1.50% resulting in a clear break of the 20-day Simple Moving Average (SMA) that provides support at 0.5928.Thursday’s release…
Factbox-Inside U.S. nuclear energy landscape as Trump seeks to fast-track reactor approvals Source link
DXY tumbles below 99.50, down 1.8% for the week amid broad risk-off sentiment.Trump threatens 50% tariffs on EU goods, 25% on Apple products made overseas.Markets eye upcoming FOMC Minutes, GDP, and core PCE data for policy signals.The US Dollar Index (DXY), which tracks the value of the US Dollar (USD) against a basket of six major currencies, slumps sharply on Friday, down over 1.8% for the week after posting a modest gain on Thursday to trade around 99.10 near a two-week low, ahead of the weekend. Although the US Dollar was already facing headwinds due to lingering trade tensions and growing…
Crude oil is settling the day up $0.33 on the day at $61.53. The high today reached $61.84. The low was at $60.06. For the trading week, the price is closing down marginally by about – $0.34 or -0.54%. The high for the week was at $64.14. The low was at $60.06. The decline this week was the first in 3 weeks as expectations of another OPEC+ production increase and concerns and uncertainty about growth given the tariffs environment weighs on price as well.Technically, the price action this week was above and below the 100/200 hour MA (blue and green…
USDJPY dailyBank of America maintains a bullish USD/JPY outlook, projecting the pair to rise to 155 by end-2025, citing a mix of domestic political, fiscal, and trade-related risks in Japan. They expect JPY and JGBs to weaken over the summer as structural pressures mount.Key Points:Japan-US Trade Talks Stalled:Lack of progress in bilateral trade negotiations reduces the appeal of Japanese assets, potentially delaying BoJ hikes and creating a twist-steepening in the JGB curve.Fiscal Concerns Grow:Calls for tax cuts from opposition parties and even some ruling coalition members threaten fiscal discipline. With PM Ishiba’s approval ratings under pressure, fiscal expansion may become…
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