Author: FX
A meeting between United States (US) President Donald Trump and Ukrainian leader Volodymyr Zelenskyy devolved into an argument on Friday. According to President Zelenskyy, the terms of the deal are either too ambiguous or missing key components but it is otherwise a good first step. President Donald Trump, who was operating on the understanding that the deal was finished and President Zelenskyy was visiting simply to finalize the deal, was beyond irate during the public meeting, accusing the Ukranian President of being “disrespectful”. Ukrainian President Volodymyr Zelenskyy opted to reject US President Donald Trump’s “rare earths deal” with Ukraine, sparking…
The Dow Jones recovered 150 points on Friday but still remains down on the week. Equities broadly recovered after US PCE inflation came in as expected. Coming up next week: maybe, maybe not tariffs and another NFP print. The Dow Jones Industrial Average (DJIA) recovered some lost ground on Friday, rebounding about 150 points to remain in contention with the 43,400 level. Despite Friday’s bullish attempt, the major equity index remains down from Monday’s opening prices. US President Donald Trump got in a row with Ukrainian President Volodymyr Zelenskyy after the Ukrainian leader declined to sign Donald Trump’s defense agreement without asking…
EURUSD technicalsThe EURUSD fell after comments from Trump (and the U.S.), suggesting Ukraine—and by extension, the EU—may have to fend for themselves if peace is not reached through compromise rather than victory. That did not sit well with Zelenskiy who see Russia as the aggressor and wants guaranteed security from the US. Trump does not want to guarantee that or spend for it, and also feels the US has been disrespected. From a technical standpoint, the decline pushed the pair back below key support at 1.0406, a critical area that includes:The 38.2% retracement of the February low-to-high move.Last week’s swing…
USD/MXN rises 0.22% to 20.52 as tariff fears weigh on sentiment. Mexico’s trade deficit widens and unemployment ticks higher, adding to economic concerns. Banxico’s dovish stance and US trade policies could push USD/MXN toward 21.00. The Mexican Peso (MXN) prolonged its agony and depreciated against the Greenback on Friday, set to achieve weekly losses of over 0.59% as the President of the United States (US) Donald Trump emphasized that tariffs on Mexico are moving forward on March 4. USD/MXN trades at 20.52, up 0.22%. The emerging market currency remains pressured by US trade policies to be enacted next week. Mexico’s…
Claudia SheinbaumI think this is a big tell on the North American front.Bloomberg reports that Mexico is open to new tariffs on China to avoid Trump duties.I don’t think anyone really believed this was all about fentanyl, given Trump’s words. Now we get some confirmation of that with the aim shifting towards blocking China from North America. That kind of deal could ultimately be a huge tailwind for Mexico and Canada as the US sources more goods from both.That said, it’s very tough to get away from China as it’s so strong (and cheap) on manufacturing. Also notable here is…
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GBP/USD dailyIt’s a real mess out there many fronts right now and that makes it a good time to look at the charts.Cable has my attention with the three-candle reversal that was completed yesterday. It was further validated by today’s decline, which is 40 pips to a 10-day low of 1.2560.The pair is trading at a session low at the moment as uncertainty ratchets up in Europe following the disaster in the Oval Office today. You have to wonder if a broader schism is unfolding across the Atlantic. The UK has tried to find middle ground but that’s always a…
I don’t know if we’ve ever seen anything like this before.Zelensky, Trump and Vance descended into open argument in the White House. It was one of the most extraordinary things you will ever see in diplomacy (or lack thereof).The minerals deal was left unsigned and the Ukrainians have now left the White House. The scheduled press conference is cancelled.A fresh report from Reuters citing a senior US official says Trump will likely accelerate efforts to investigate fraud and waste in Ukraine in light of today’s meeting.Oftentimes Trump will patch things up later but we’ve never seen anything like this before.…
January’s Personal Consumption Expenditures data aligned with expectations. President Trump confirms that tariffs on Canada, Mexico, and China will take effect on March 4. DXY is set to record a 0.60% weekly gain, holding onto Thursday’s rally. The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of six major currencies, remains firm above 107.00 on Friday after January’s Personal Consumption Expenditures (PCE) inflation data came in line with forecasts, easing concerns over unexpected inflation spikes. The Greenback retains its recent gains as President Donald Trump reaffirms that tariffs on Canada, Mexico, and China…
Lebanon seizes $2.5 million bound for Hezbollah, sources say Source link