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.
The Financial Stability Board (FSB) announced on Monday that they nominated Bank of England Governor Andrew Bailey as the next chair of the organization.
"Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is no inflation, and the long time abused USA is bringing in billions of dollars a week from the abusing countries on tariffs that are already in place," US President Donald Trump poste
The oil price sell-off has accelerated since Friday as the trade war deepened and the risk of a recession in the US rose, Danske Bank's FX analyst Frederik Romedahl reports.
Oil prices have had their worst week since October 2023, with risk assets getting hit by US President Donald Trump’s reciprocal tariffs and the retaliation we have started to see towards them. China retaliated on Friday with a 34% tariff on all imports from the US.
Gold price (XAU/USD) is facing again some selling pressure towards the American trading session, trading at $3,025 at the time of writing on Monday after falling 2% intraday in early trading as the trade war spirals out of control.
USD/CAD had an eventful start to April, dropping to the 1.40 level following broad USD weakness sparked by Trump's tariffs on Liberation Day, Danske Bank's FX analyst Frederik Romedahl reports.
Weekend press reports and TV interviews suggest US President Donald Trump is not yet ready to be swayed from his mission to reset the global trading system.
EUR/USD recovers some intraday losses to near 1.0940 during North American trading hours on Monday after sliding around 1.0880 earlier in the day. The major currency pair is still down almost 0.25%, at the time of writing, as the US Dollar (USD) gains after recovering losses.
Metal markets collapsed on Friday as Trump’s escalating trade war continues to fuel concerns about global growth and the demand outlook for raw materials, ING's commodity experts Ewa Manthey and Warren Patterson note.
The Eurozone’s retail sales rose 2.3% over the year in February, following a revised 1.8% growth in January, according to official data released by Eurostat on Monday. The data outpaced the market expectations for a 1.8% print.
The highlights include the RBNZ decision, the US CPI, the US Jobless Claims and the UMich survey but the focus will remain on tariffs and potential deals ahead of the April 9 deadline.
The Pound Sterling (GBP) gives up its intraday recovery move and tumbles to near 1.2800 against the US Dollar (USD) during Monday’s North American session, the lowest level seen in a month.
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