Author: FX
The EU has not really been in the crosshairs with regard to any specifics on tariffs… yet. EU Trade Chief Sefcovic is saying:He had an important exchange with US Commerce Secretary Lutnick There is a lot of work ahead.We do know is that Trump is irked by the tariffs on US autos in the EU, and will likely encourage them to be eased.Ford manufacture vehicles in the European Union, maintaining key production facilities in Cologne, Germany; Valencia, Spain; and Craiova, Romania. The Cologne plant, established in 1931, produces models like the Ford Explorer EV, while the Valencia plant, operational since…
Bakers Hughes rig count for the current week:Oil rigs +1 to 487Gas rigs -1 to 100Total rigs Unchanged at 592 This article was written by Greg Michalowski at www.forexlive.com. Source link
US stocks gain on the view that continuing resolution will pass the Senate. NASDAQ gains 2.3%, Dow advances 1.5%. Dow Jones financials are leading the advance. American Express, Goldman Sachs and JPMorgan stocks are just behind Nvidia’s gains. JPMorgan (JPM), Goldman Sachs (GS) and American Express (AXP) were three of the top five advancing Dow Jones Industrial Average (DJIA) stocks at lunchtime on Friday. The financials have been pushed down to much more acceptable valuations over the past month as the United States (US) stock market digests worrisome economic data and the Donald Trump administration’s tariff-heavy trade war. Investors decided to…
The new Canadian Prime Minister Mark Carney was sworn in today replacing Justin Trudeau. Carney is saying that:This is a time of great consequence for our countryThe government is to improve affordability and make Canada more secureHe plans to go to France and UKHopes to have a call with Trump,but does not have a plan to do so.Talk of Canada becoming 51st state is crazy.He will never ever in any way, shape, or form, be part of the United StatesNeedless to say, Pres. Trump was not a big fan of Trudeau. What will the relationship be with the new PM?…
GBP/USD slides as UK economy falters ahead of central bank bonanza The Pound Sterling registers back-to-back bearish days, dropping some 0.14% on Friday against the Greenback after economic data from the UK revealed that the Gross Domestic Product (GDP) contracted. Despite this, the GBP/USD trades above the 1.2900 figure, poised to finish the day near that level. Read More… GBP/USD loses momentum below 1.2950 on downbeat UK GDP data The GBP/USD pair loses ground to near 1.2925 during the early European session on Friday. The Pound Sterling (GBP) edges lower after the release of UK growth numbers. The attention will shift to the preliminary Michigan Consumer…
EUR/USD briefly heads back to 1.0900 on a flurry of headlines on Friday. The World Trade Organization could examine if US President Trump’s tariff policy is illegal. Markets have a sign of relief on the odds of a spending bill being passed, avoiding the US government shutdown, later this Friday. The EUR/USD pair edges higher and recovers to 1.0900 at the time of writing on Friday, erasing its sluggish performance from earlier this week. The resurgence in the pair comes after two headlines emerged late Thursday. United States (US) Senate Democratic Leader Chuck Schumer announced that he plans to vote…
LPETTET/iStock Unreleased via Getty Images A judge in Missouri has ordered a new trial in a case that a jury found in favor of Abbott Laboratories (NYSE:ABT) and Reckitt Benckiser (OTCPK:RBGPF) regarding their baby formulas and alleged intestinal disease. Abbott and Reckitt Benckiser (OTCPK:RBGLY Source link
The Greenback back in a weekly loss ahead of the US trading session on Friday. Headline risk persists with headlines on the government shutdown and tariff headwinds. The US Dollar Index has been limited by the 104.00 hurdle and looks to be closing off the week in a negative tone. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, dips lower again on Friday after a few headlines on tariffs and the US spending bill. The index, which has been limited below the 104.00 hurdle this week, hasn’t moved that much…
Consumer confidence in the US declined markedly in early March. One-year inflation expectation edged higher to 4.9%. US Consumer Sentiment took a dip in early March, according to the preliminary reading of the University of Michigan’s Consumer Sentiment Index. The gauge slipped from 64.7 in February to 57.9, missing the market’s forecast. Breaking it down further, the Current Conditions Index edged down from 65.7 to 63.5, while the Consumer Expectations Index moved from 64.0 to 54.2. On the inflation front, the survey revealed a noticeable uptick in one-year inflation expectations—from 4.3% to 4.9%—and the five-year outlook rose from 3.5% to…
Pound Sterling (GBP) is little changed on the session after UK GDP data fell 0.1% in the January month, a little weaker than forecast, Scotiabank’s Chief FX Strategist Shaun Osborne notes. GBP/USD appears to be consolidating ahead of another push higher “The rolling 3m/3m measure rose 0.2%, in line with forecasts. Weak January activity was the result of global uncertainty and tariff concerns, UK Chancellor Reeves suggested, but the UK economy’s struggle to grow away from stagnation continues, regardless.” “The GBP has not made a lot of headway this week but it hasn’t lost much ground either. The GBP rally…