Author: FX
Mexican Peso weakens for third straight day as dovish Banxico tone, sticky US inflation and trade tensions fuels USD/MXN rally. Banxico slashes rates by 50 bps to 9% and signals more easing despite inflation risks skewed to the upside. Peso under pressure amid tariff jitters and light Mexico data ahead; focus turns to NFP and ISM next week. The Mexican Peso (MXN) prolongs its agony in the week, depreciating against the US Dollar (USD) after Banco de Mexico (Banxico) reduced interest rates but also paved the way for additional easing. This, along with an inflation report and trade policies in…
The Dow Jones plummeted over 700 points on Friday. Investor sentiment is deteriorating after key PCE inflation metrics ticked higher. Ongoing tariff fears and souring consumer sentiment are also pushing stocks lower. The Dow Jones Industrial Average (DJIA) backslid over 700 points on Friday, falling 1.75% and tumbling to 41,500 after core Personal Consumption Expenditure (PCE) inflation figures accelerated in February. Consumer inflation fears rose in March, and the consumer outlook on economic conditions also deteriorated further as tariff fears continue to take a bite out of general sentiment. Core PCE Price Index inflation ticked up to 2.8% YoY in…
An Axios report says the Trump admin is considering allowing the richest Americans’ tax rates to rise in return for cutting taxes on tips.There isn’t much here as it says “some White House officials believe” it would be a good idea. Note that this would have to get through Congress and it would take the top rate to 39.6% from 37% and also lower the threshold for when that kicks in.Aside from the obvious political problems in raising taxes for the rich, I can’t understand how removing taxes on tips might work as it presents an infinite number of loopholes.…
aluxumWall Street slumped on Friday, as a hotter-than-expected key inflation reading added to angst over tariffs. The benchmark S&P 500 index (SP500) is on track for weekly losses, undoing its rebound from correction territory earlier this month. The S&P 500 ( Source link
EUR/USD was seen trading near the 1.0830 zone on Friday after the European session, moving closer to the top of its daily range. Despite mixed oscillator signals, short- and long-term moving averages support the pair’s ongoing bullish momentum. Support is seen around 1.0790–1.0810, while resistance stands near 1.0845; MACD flashes a sell, but trend bias remains bullish. EUR/USD extended its upward trajectory on Friday, moving near the 1.0830 region after the European session and toward the upper end of the day’s trading range. The pair has gained traction, reflecting investor appetite for the euro despite mixed short-term signals. Technicals reveal…
GBP/USD steadies near 1.2950 as traders digest PCE figures, tariff turmoil The Pound Sterling remains firm, hovering around 1.2950 against the US Dollar, virtually unchanged, as traders digest the latest inflation report from the United States (US), amid uncertainty about a potential trade war escalation following Trump’s imposition of tariffs on cars. At the time of writing, the GBP/USD exchange rate is 1.2948. Read More… Pound Sterling edges higher against US Dollar after hot US core PCE Inflation data The Pound Sterling (GBP) recovers nominal intraday losses and turns positive around 1.2960 against the US Dollar (USD) in Friday’s North American session. The…
Traders are chasing safe havens such as Gold to fresh all-time highs ahead of reciprocal tariffs. Markets see US PCE and University of Michigan numbers release adding to equity sell off. The US Dollar Index breaks below 104.00, no safe-haven flow in the Greenback. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is currently set to close off this Friday in a loss at 103.90 at the time of writing on Friday. Traders are not really looking at the Greenback but rather at an exodus from Equities and Cryptocurrencies into the precious metals’ market,…
US Core PCE rises to 2.8%, reinforcing Fed’s inflation concerns and limiting GBP/USD upside near 1.2967. UK Retail Sales beat forecasts, and the economy grows 0.1% in Q4 2024, boosting the Sterling. Market focus now shifts to key US data: ISM PMI, JOLTs, and next week’s crucial Nonfarm Payrolls report. The Pound Sterling (GBP) remains firm, hovering around 1.2950 against the US Dollar (USD), virtually unchanged, as traders digest the latest inflation report from the United States (US) amid uncertainty about a potential trade war escalation following Trump’s imposition of tariffs on cars. At the time of writing, GBP/USD exchange rate…
The last mile will be about prudenceThe next ECB meeting is April 17 and the market is pricing in an 88% chance of a rate cut. Nagel is a hawk so I take this as a green light to take that pricing up to 100%. June though is 50/50. This article was written by Adam Button at www.forexlive.com. Source link
EUR/USD rebounds from the intraday low of 1.0765 after the release of the US PCE inflation data for February. The European Commission prepares for retaliatory measures against US President Trump’s auto tariffs. Inflation in Spain and France grew at a moderate pace in March. EUR/USD finds cushion near 1.0765 during North American trading hours on Friday after the release of the United States (US) Personal Consumption Expenditures Price Index (PCE) for February. The report showed that the core PCE inflation – which excludes volatile foods and energy prices – rose at a faster pace of 2.8% year-on-year compared to estimates of 2.7% and January’s reading of 2.6%.…