Author: FX
Mexican Peso shrugs off soft data, extends four-day rally as traders eye US-China meeting in Switzerland.Mexico’s Consumer Confidence dips for seventh month; auto exports slump under new US tariffs.Fed officials maintain wait-and-see approach, highlighting uncertainty over tariff impact on US economy.The Mexican Peso (MXN) registered modest gains versus the US Dollar (USD) on Friday as market participants turned cautious ahead of the US-China talks in Switzerland. The emerging market (EM) currency remained unfazed by a worse-than-expected economic outlook as Mexico’s data continued to deteriorate.At the time of writing, the USD/MXN trades at 19.46, below its opening price by 0.33%, testing…
US yields moved modestly higher for the 2nd consecutive week. 2-year yield 3.883%, up 6.1 basis points for the week. That comes after a 6.6 basis point gain last week.5-year yield 3.994%, up 7.7 basis points for the week. Last week yields rose 4.0 basis points.10-year yield 4.382% up 7.4 basis points for the week. Last week yields moved up 5.3 basis points30-year yield 4.840%, up 5.1 basis points for the week. Last week yields moved up 6.8 basis points.Looking at the 10-year yield, the 100-day moving averages at 4.254%. The yield low this week reached 4.260% just above the…
zorazhuang/iStock via Getty ImagesEnbridge (NYSE:ENB) +0.6% in Friday’s trading after beating Q1 adjusted earnings expectations, driven in part by higher earnings from its Mainline crude pipeline system – the largest in North America – which it said customers want to see expanded in spite of Source link
Today, we’ve got significant news regarding potential tariff reductions on China. President Trump suggested that “80% Tariff on China seems right” ahead of upcoming trade talks with Chinese officials. This would represent a substantial decrease from the current tariffs, which reach as high as 145%. What’s particularly interesting—and telling—is the stock market’s tepid reaction to this news. Despite what would typically be considered positive for the economy (lower tariffs), the stock market hasn’t responded with enthusiasm. As of writing, stocks are slightly down, which suggests one of two things (or both): 1. The market doesn’t believe these tariff reductions will materially…
According to Reuters,:Iran is preparing to send Russia launchers for short range ballistic missiles.That is a negative for two reasons. For one, the US is trying to put a governor on Iran and have them get more in line. The second isssue is the US and Trump administration is getting increasingly frustrated with Russia’s behavior with regard to promises made and broken in Ukraine. So two bad actors are potentially acting up. This article was written by Greg Michalowski at www.forexlive.com. Source link
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Oil rig count -5 at 474Nat Gas rig count unchanged at 101Total rig count -6 at 578 This article was written by Greg Michalowski at www.forexlive.com. Source link
US crude oil futures are settling the day at $61.02. That’s $1.11 or 1.85%.For the trading day. The high was at $61.42. The low was at $59.92. The price moved up $3.07 or 4.46% for the trading week but it wasn’t until after reaching a low of $55.39 which was just above the low price for the year $55.15 from the week of April 7, and the lowest price going back to February 2021.Looking at the hourly chart, the price rebound has extended up toward the 38.2% retracement of the range since the April high (high price reached $72.22). The…
Trump had good call with Ukraine's Zelenskiy, White House says Source link
White House Press Secretary Karoline Leavitt addressed media staff on Friday, walking back some of the tone and market interpretations of President Donald Trump’s early morning tweets.Key highlightsTrump confident in US Treasury Secretary Bessent with discussions (with China).The US needs to see concessions from China.Trump committed to the 10% baseline tariff.The 10% baseline tariff will remain for the UK.It is ridiculous that Trump would do anything for his own gain.The White House will let Congress work out SALT tax issue.On possible 80% tariff concession: That’s not what Trump said.Trump will not unilaterally bring down tariffs on China. 80% was a…