Author: FX
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GBP/USD surges past 1.3500 to a three-year high on strong UK Retail Sales, weak US Dollar The British Pound (GBP) rises sharply against the US Dollar (USD) to its highest level in three years on Friday. The pair has broadly traded on the front foot over the last five days, with GBP/USD breaking above 1.3500 to trade around 1.3538, up nearly 0.80% at the time of writing during the American session. The surge in spot prices is mainly attributed to a broad-based weak US Dollar and a stronger-than-expected United Kingdom’s (UK) Retail Sales data. Read More… Pound Sterling advances…
10-year yield falls to 4.51% as investors flee US assets amid rising protectionist risks.Trump targets iPhones made abroad and threatens 25% tariffs on Apple products.Moody’s downgrade, $3.8T tax bill, and EU trade tensions intensify fiscal and inflationary fears.US Treasury yields fall across the whole curve following Trump’s threats to impose tariffs on Apple’s iPhones not manufactured in the US and duties on European imports. At the time of writing, the US 10-year Treasury note yield is down two basis points at 4.509%.Treasury yields dip across the curve as Apple and EU tariff threats deepen concerns over trade war and US…
The Dow Jones fell on Friday, shedding 780 points at its lowest.Relief from tariff threats is over as the trade policy cycle begins anew.Markets pared back downside bets after investors remembered the odds of a tariff walkback remain high.The Dow Jones Industrial Average (DJIA) saw stiff losses during the Friday market session The major equity index declined 780 points top-to-bottom and tapped 41,200 before a slow crawl back to the 41,750 region. United States (US) President Donald Trump sent markets into a backslide after announcing his intent, or at least desire, to impose import taxes on a specific company, the…
It doesn’t sound like the US and EU make a quick deal on trade that will drop the 50% tariffs that Trump recommended today and to go into effect on June 1.The US is fully engaged and committed to securing a deal that works for both EU commission remains ready to work in good faithEU-US trade is unmatched and must be guided by mutual respectIt’s tough to tell which way this is going to go but at least Sefcovic didn’t go full-China style and announce immediate retaliatory tariffs — though there’s an argument that’s the optimal strategy. This article was…
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…