Author: FX
The Canadian Dollar dipped to its lowest value in over two decades. Canada immediately hit back against Trump’s import tariffs with their own export tariffs. Markets have moderated Loonie selling, but the CAD remains at multi-year lows. The Canadian Dollar (CAD) plummeted to its lowest bids against the US Dollar (USD) in 21 years at the outset of the trading week after the US and Canada went tit-for-tat on trade tariffs that will pulverize key aspects of both economies. Overall market sentiment recovered ground after Mexico was able to negotiate a one-month ceasefire on US tariffs targeting goods imported from…
The video above outlines the technical levels driving the three major currency pairs – the EURUSD, USDJPY and GBPUSD. The USD is higher by over 1% vs the EUR and 0.61% vs the GBP. Against the JPY, the USD is lower (the only currency the USD is lower vs as the market reacts to the traditional risk-off sentiment. The USD is higher by 1.03% vs the CAD and the ADU and up 1.31 vs the NZD. Below are the changes of the major currency pairs vs the USD. Of course the tariff news is dominating with Pres. Trump imposing:25% tariff…
The US ISM Manufacturing PMI is seen improving modestly in January. Markets will also look at the ISM Prices index and the Employment index. EUR/USD remains under pressure around the 1.0400 zone. Excitement is building as the Institute for Supply Management (ISM) prepares to release the January US Manufacturing Purchasing Managers’ Index (PMI) this Monday. This report is a key barometer of the health of the United States (US) manufacturing sector and offers valuable insights into the broader economy’s direction. Here’s what to watch for: PMI Thresholds: A PMI above 50.0 signals that the manufacturing sector is expanding, while a…
Feb. 03, 2025 6:45 AM ETSPDR® S&P Retail ETF (XRT), XLPWMT, COST, M, AMZN, DG, F, GM, HD, PG, BBY, SBUX, LOW, HOG, DKS, TAP, BUD, TSLABy: Clark Schultz, SA News EditorKeithBinns/iStock via Getty ImagesThe share prices of U.S.-based consumer companies fell early on Monday after President Trump signed executive orders imposing new tariffs on imports from Canada, Mexico, and China, set to take effect on February 4. The executive orders allow for potential further increases if Canada, Mexico, or Source link
Key findings:Decline in production volumes loses momentum Sharp and accelerated decrease in order book volumes Firms continue to reduce charges despite rise in cost pressuresComment:Commenting on the PMI data, Jonas Feldhusen, Junior Economist at Hamburg Commercial Bank, said: “Operating conditions at Italy’s manufacturing companies remain bleak. The manufacturing Output Index remained below the 50 threshold. The start of the year was disappointing yet predictable. Structural issues such as elevated energy costs and weak economic activity in key trade partners like Germany, France, and China are contributing to the ongoing economic downturn.” “Italian factories produced less at the beginning of the…
European Central Bank (ECB) policymaker Francois Villeroy de Galhau said on Monday that US President Donald Trump’s tariffs will increase economic uncertainty, calling it a “very worrying development,” as reported by Reuters. Commenting on the policy outlook, “there will likely be further rate cuts,” Villeroy added. Market reaction EUR/USD stays under strong bearish pressure early Monday and trades below 1.0250, losing more than 1% on a daily basis. Tariffs FAQs Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by…
Trump's trade war salvo rocks markets Source link
Market watchers aren’t exactly setting the bar high for New Zealand’s jobs figures, but what if the actual results do surprise to the upside? Our Event Guide for New Zealand’s Jobs Report points out that employment intentions have picked up in October and November, before dipping in December. Better keep an eye out for these trend channels on AUD/NZD and NZD/CAD! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source…
Our Event Guide suggests weaker labor market figures than what the markets expect. Will New Zealand’s jobs report add to NZD’s pain this week? Source link
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