Citing sources familiar with the matter, the Washington Post reported on Tuesday that White House aides have drafted a proposal to impose tariffs of around 20% on most imports to the United States, per Reuters.
Yesterday's figures on the Swiss National Bank's (SNB) foreign exchange interventions, which amounted to around 100 million in the fourth quarter, once again confirmed that the SNB is currently intervening in the foreign exchange market rather cautiously, Commerzbank's FX analyst Michael Pfister notes.
The currency market caught up with the tariff threat at the start of this week, with the dollar stronger across the board, the yen supported, and high-beta currencies under pressure.
Gold price (XAU/USD) sees earlier gains fade and is holding on to a small intraday gain ahead of the US trading session on Tuesday, trading near $3,132. The precious metal trades slightly above $3,130 at the time of writing and the new all-time high was
The USD/CAD pair touches a two-and-half-week top on Tuesday, though it struggles to find acceptance or build on the intraday uptick beyond the 1.4400 mark.
The Eurozone Harmonized Index of Consumer Prices (HICP) rose at an annual pace of 2.2% in March after increasing by 2.3% in February, the official data released by Eurostat showed Tuesday. The data matched the market forecast of 2.2% in the reported period.
As the 2 April 'Liberation Day' approaches, financial markets have turned more jittery with exporters and businesses bracing for potentially hard-hitting import tariffs imposed by US President Trump, UOB Group's economists Suan Teck Kin and Alvin Liew note.
Pound Sterling (GBP) is under mild downward pressure vs US Dollar (USD); it is expected to edge lower, but any decline is likely limited to a test of 1.2880.
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