Author: FX
This week, central banks’ policy shifts, Trump’s tariff threats, and an AI-driven selloff shaped market sentiment, while gold made fresh highs and Bitcoin held strong above $100K. Source link
It’s never a dull moment with Trump. Nothing can be done by China, Mexico and Canada right now to forestall tariffsWe have big deficits and tariffs are something we’re doingWe may increase tariffsCanada has treated the US very unfairlyNot looking for concessionsWill put tariffs on chips, oil and gasOil and gas tariffs by Feb 18Will put tariffs on Steel, aluminum and copperSays he wants to bring pharmaceuticals back to America with tariffsWe are going to take back the Panama canalBringing tomorrow’s tariffs down to 10% on Canadian oil and gasTariff costs are sometimes passed onto consumersTariffs may cause short-term disruptionNot…
The U.S. Navy awarded Lockheed Martin (NYSE:LMT) a $383 million cost-plus-incentive-fee and cost-plus-fixed-fee modification to the existing contract for development of the next generation of the Trident II Strategic Weapons System (SWS) D5 missile to continue the nation’s sea-based strategic deterrence. Source link
AUD/USD hovers above 0.6200, defending mild bids amid US tariff concerns and weak Chinese data. US PCE data showed no surprises, Fed remains cautious. RBA dovish bets continue to pressure the pair. The Australian Dollar clings to mild gains on Friday, trading around 0.6215 after briefly touching a two-week low. The pair remains under pressure as US President Donald Trump reaffirmed plans to impose tariffs on Chinese imports, dampening risk sentiment. Meanwhile, speculation over a potential rate cut by the Reserve Bank of Australia (RBA) in February and ongoing economic struggles in China continue to weigh on the Aussie. Daily…
Gold sustains gains, trading at $2,797, as White House clarifies tariff timeline confusion. Revised tariff announcements lead to brief dip in Gold with traders eyeing $2,800 resistance. Despite steady December Core PCE data, geopolitical uncertainty keeps Gold prices elevated. Gold price trades near all-time highs above $2,800 on Friday as market participants turn risk-averse after the White House corrected earlier reports from Reuters that the United States (US) would not impose tariffs on Canada and Mexico on February 1 and instead would do it on March 1. At the time of writing, XAU/USD trades at $2,797, up 0.15%. US Press…
United States (US) President Donald Trump spoke with reporters late on Friday, further amending statements made by his own White House personnel which were also meant to amend reports that the Trump administration may be kicking the tariff can down the road to March 1. President Trump’s team reiterated that tariffs on Mexico, Canada, and China were all starting this weekend on February 1. Donald Trump himself added further fuel to the trade war fire, noting that not only are 25% tariffs landing on Mexico and Canada, but China is also getting its own 10% tariff. President Trump then added…
The Dow Jones tumbled around 340 points on Friday. According to the White House, reports of a delay in tariffs is false. US PCE inflation met expectations, and trade tariffs are inbound this weekend. The Dow Jones Industrial Average (DJIA) broke to the bearish side toward the tail end of the US trading session on Friday. Equities backslid after a spokesperson for US President Donald Trump reaffirmed that trade tariffs against Canada, Mexico, and China will be implemented this Saturday. Pre-market reports suggested that President Trump’s team would be kicking the tariff can down the road, and the White House…
Markets:Gold up $3 to $2796US 10-year yields up 7 bps to 4.58%WTI crude oil down 27-cents to $72.46S&P 500 down 30 points to 6039USD leads, JPY lagsJanuary comes to an end and it was certainly a dramatic one, which is no surprise given the new President.The PCE report was a good one for inflation, though only when you’re rounding to the second decimal or digging deep in the numbers. It was a reminder that the Fed won’t be threatening rate hikes any time soon, even if the pace of cuts could slow or stop. The dollar took the report in…
CVX stock shot more than 4% lower on Friday following Q4 earnings. The oil major bested Wall Street on Q4 revenue prediction but missed on EPS. Chevron raised its quarterly dividend from $1.63 to $1.71. Chevron repurchased $15 billion of its own shares in 2024. At the end of a volatile trading week, Chevron (CVX) is the worst performing Dow Jones Industrial Average (DJIA) stock on Friday after missing its earnings consensus slightly on the bottom line. The oil major announced Q4 adjusted earnings per share of $2.06, which missed the average Wall Street estimate by 5 cents. CVX…
Treasury yields have been creeping higher today as the White House re-iterated a threat to slap tariffs on Mexico, Canada and China. We will see how it shakes out but it’s a decent reversal given a benign PCE inflation report today.It’s increasingly clear how the Treasury market views tariffs:1) They’re inflationarySome Fed officials dismiss them as a one-off effect but there are many permutations, including retaliation and growth knock-ons. This is straight-forward thinking as raising the prices of things to consumers is the point of tariffs.2) Trade war spendingIf we do end up in some real trade wars, it’s clear…