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GBP/USD crashes over 100 pips below 1.28 as trade war escalates
GBP/USD crashes over 100 pips below 1.28 as trade war escalates
The Pound Sterling (GBP) plunges over 100 pips or 0.90% against the Greenback at the beginning of the week, driven by recession fears and hopes cut short that the White House could reconsider their position in trade policies over the weekend.
Technical Analysis
Majors
GBPUSD
Fundamental Analysis
Silver Price Forecast: XAG/USD recovers strongly above $30 as Fed dovish bets swell
Silver Price Forecast: XAG/USD recovers strongly above $30 as Fed dovish bets swell
Silver price (XAG/USD) is up almost 2.4% near $30.30 during North American trading hours on Monday.
Silver
XAGUSD
Fed
Metals
TradeWar
White House: Not aware of Trump considering a 90-day pause in tariffs
White House: Not aware of Trump considering a 90-day pause in tariffs
Several news outlets, including Reuters, reported on Monday that Kevin Hassett, Director of the National Economic Council (NEC), told CNBC that US President Donald Trump is considering a 90-day pause in tariffs for all countries except China.
TradeWar
UnitedStates
US March employment trends 109.03 vs 108.56 prior
US March employment trends 109.03 vs 108.56 prior
Employment trends data from the Conference Board
USD/CAD trades higher around 1.4260 as Canadian Dollar underperforms
USD/CAD trades higher around 1.4260 as Canadian Dollar underperforms
The USD/CAD pair rises to near 1.4260 during North American trading hours on Monday. The Loonie pair gains as the Canadian Dollar (CAD) faces selling pressure amid growing expectations that the Bank of Canada (BoC) could continue reducing interest rates this year.
USDCAD
BOC
Employment
TradeWar
DollarIndex
EU Trade Commissioner Sefcovic: Offered zero-for-zero tariffs to US for cars and all industrial goods
EU Trade Commissioner Sefcovic: Offered zero-for-zero tariffs to US for cars and all industrial goods
European Union trade commissioner Maros Sefcovic said on Monday that a range of tariffs is hitting 380 billion Euros worth of EU exports of the US. "Some 70% of our total exports are facing tariffs," he added.
Eurozone
UnitedStates
Politics
Rough open for stocks as S&P 500 falls 3.4% to enter a technical bear market
Rough open for stocks as S&P 500 falls 3.4% to enter a technical bear market
The index is now down more than 20% from its February closing high
GBP edges slightly lower – Scotiabank
GBP edges slightly lower – Scotiabank
Pound Sterling (GBP) is soft, down a modest 0.2% vs. the USD and a mid-performer among the G10 currencies.
Technical Analysis
Banks
GBPUSD
EUR gains modestly in tight range – Scotiabank
EUR gains modestly in tight range – Scotiabank
Euro (EUR) is quietly consolidating within a relatively tight range around the mid-1.09s and strengthening modestly vs. the USD, outpacing all the G10 currencies apart from the havens JPY and CHF.
Technical Analysis
EURUSD
Banks
Japan PM Ishiba: Will continue to push US to review tariff policies
Japan PM Ishiba: Will continue to push US to review tariff policies
Japanese Prime Minister (PM) Shigeru Ishiba said on Monday that the told United States (US) President Donald Trump in a video meeting that Japan has made the biggest investment in the US for five straight years, per Reuters.
Japan
UnitedStates
Politics
TradeWar
CAD holds range ahead of BoC Business Outlook Survey – Scotiabank
CAD holds range ahead of BoC Business Outlook Survey – Scotiabank
The Canadian Dollar (CAD) is remarkably stable considering the carnage playing out in stocks. Spot has held a tight range close to Friday’s closing level throughout Asian and European trade.
Technical Analysis
BOC
USDCAD
Banks
USD mixed amid ongoing stock market weakness – Scotiabank
USD mixed amid ongoing stock market weakness – Scotiabank
Stocks screens are a sea of red as investors register deepening concerns over the impact of US tariffs on the global economy. Are countries rushing to offer the US concessions on trade? So far, it seems only Vietnam and Cambodia have started talks to lift levies.
Technical Analysis
Banks
DollarIndex
WH Trade Adviser Navarro: Any talk of recession seems silly given expected tax cuts
WH Trade Adviser Navarro: Any talk of recession seems silly given expected tax cuts
White House Trade Adviser Peter Navarro told CNBC on Monday that countries seeking a tariff relief need to lower non-tariff barriers, per Reuters.
TradeWar
UnitedStates
Politics
Trump: Don’t be weak
Trump: Don’t be weak
The latest post on Truth Social
EC President von der Leyen: We are ready to negotiate with US on tariffs
EC President von der Leyen: We are ready to negotiate with US on tariffs
European Commission President Ursula von der Leyen said on Monday that they are ready to negotiate with the United States on tariffs, per Reuters.
TradeWar
Eurozone
UnitedStates
Politics
Beware of claims of an emergency Fed meeting
Beware of claims of an emergency Fed meeting
It's making the rounds on X that the Fed is holding an emergency meeting to potentially discuss a rate cut. Unfortunately, it's just a regular meeting.
market overview
WH Economic Adviser Hasset: Trump will listen to trading partners if they offer really great deals
WH Economic Adviser Hasset: Trump will listen to trading partners if they offer really great deals
In an interview with Fox News on Monday, Kevin Hassett, Director of the US National Economic Council (NEC), said that US President Donald Trump is doubling down on something he knows works and added that Trump will listen to trading partners if they offer "really great deals," per Reuters.
UnitedStates
Politics
Peter Navarro set to speak on CNBC
Peter Navarro set to speak on CNBC
He is scheduled to speak at 8:40 am ET
Eyes on the bond market and tariff talk with no US data on  the schedule
Eyes on the bond market and tariff talk with no US data on the schedule
Canadian business survey is the lone notable item on the agenda
economic calendar
ForexLive European FX news wrap: Markets stay in retreat but pick up a little, for now
ForexLive European FX news wrap: Markets stay in retreat but pick up a little, for now
Forex news from the European morning session on Apr 7, 2025
Session wrap
Wrap Europe
Billionaire investor Cooperman: bottom is not in yet, sell on strength
Billionaire investor Cooperman: bottom is not in yet, sell on strength
Billionaire investor Leon Cooperman in an interview with CNBC
market overview
WTI plunges to near $60 on fears of global economic turmoil
WTI plunges to near $60 on fears of global economic turmoil
West Texas Intermediate (WTI) recovers some intraday losses in European trading hours on Monday after sliding extensively to near $58.80 earlier in the day, the lowest level seen in four years. The Oil price is still 3% down near $60.40, at the time of writing.
Oil
China
UnitedStates
WTI
EconomicHealth
US Dollar keeps its eye on 103.00 in the DXY on Monday
US Dollar keeps its eye on 103.00 in the DXY on Monday
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, tries to cling onto Friday's recovery towards 103.00 at the time of writing on Monday while markets are on fire.
TradeWar
UnitedStates
SEO
Macroeconomics
DollarIndex
Deutsche stays bullish on gold, raises forecast for this year and next
Deutsche stays bullish on gold, raises forecast for this year and next
The firm sees recession risks and geopolitical developments as key drivers boosting gold
Global investors reconsider their faith in the dollar’s safe haven status – Commerzbank
Global investors reconsider their faith in the dollar’s safe haven status – Commerzbank
The Federal Reserve finds itself in a tough spot as it navigates rising inflation and slowing growth.
Technical Analysis
Banks
DollarIndex
Consequences for the USD exchange rates are reversed – Commerzbank
Consequences for the USD exchange rates are reversed – Commerzbank
A reasonably normal tariff policy would cause the dollar to appreciate. Why? Because US consumers would prefer to consume US goods instead of imported goods, and US companies would prefer to install US machinery. After all, no tariffs would have to be paid on that.
TradeWar
Banks
DollarIndex
Financial Stability Board nominates BoE Governor Bailey as next chair
Financial Stability Board nominates BoE Governor Bailey as next chair
The Financial Stability Board (FSB) announced on Monday that they nominated Bank of England Governor Andrew Bailey as the next chair of the organization.
Regulation
BOE
USD/CAD holds on to Friday’s gains – BBH
USD/CAD holds on to Friday’s gains – BBH
USD/CAD is holding on to Friday’s gains, BBH FX analysts report.
Technical Analysis
USDCAD
Banks