Yesterday, influential Senator Lindsey Graham said that the 'reality' is that the US needs border, immigration and military funding now because "the money is drying up". That led to him to call for an immediate bill on that and a later one on tax reform.In the House,...
The USDCAD moved lower (higher CAD) despite tariffs on Canada steel. Technicals in play.
President Trump officially announced a 25% tariff on all steel and aluminum imports into the U.S., despite granting a 30-day reprieve for Canadian exports last week. Canada, a major exporter of these metals to the U.S., is directly impacted. Trump also talked of...
Euro vs. USD: Pros and Cons
As of February 11, 2025, the EUR/USD exchange rate of just shy of 1.032 with quite tight EURUSD spreads according to Bybit is shaped by a mix of economic trends, policy decisions, and global events. Some forces support a stronger euro, while others pull it lower...
Text of Trump steel and aluminum tariffs indicate rates effective from March 12
The White House said March 4 would be the date of tariffs but the text of the executive order on steel and aluminum says the new tariff rates will be effective from March 12. That leaves plenty of time for negotiations.Meanwhile, the Mexican economy minister is on the...
Fed’s Hammack: It’s likely appropraite to hold rates steady for ‘some time’
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Canada December building permits +11.0% vs +1.7% expected
Prior was -5.9% (revised to -5.6%)The increase was led by a 21.2% increase in the residential sector, largely due to gains in Ontario and British Columbia.Multi-unit residential +33.3%Single-family homes +1.8%Non-residential permits fell 5.9% for third consecutive...
The USD is little changed ahead of Fed Powell’s testimony on Capitol Hill
As the North American session starts yields are higher, stocks are lower, the USD is mixed but little changed. All the major currency pairs are within 0.22% of the closing level from yesterday. The dollar is lower vs the EUR, GBP, AUD and NZD and higher vs the JPY,...
Forexlive European FX news wrap: Awaiting the Fed Chair Testimony
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US January NFIB small business optimism index 102.8 vs 104.6 expected
The NFIB Small Business Optimism Index fell by 2.3 points in January to 102.8. This is the third consecutive month above the 51-year average of 98. The Uncertainty Index rose 14 points to 100 – the third highest recorded reading – after two months of decline...
USDCAD Technical Analysis – We are trading in a tight range
Fundamental OverviewThe USD has been stronger since last Friday as Trump floated reciprocal tariffs. That came after a good US NFP report where the data was mixed at best but still pointing to strength. The jump in average hourly earnings caught the eye but that might...
US vice president Vance: US laws will keep big tech on a level playing field
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
FX continues to hold little changed on the session
The snapshot above shows the small changes and tight ranges that dollar pairs are holding so far today. The dollar is keeping steadier as a whole from yesterday, as traders are still digesting Trump's tariffs since the weekend. He announced 25% tariffs on steel and...
USDCHF Technical Analysis – The USD bounced back on new tariffs headlines
Fundamental OverviewThe USD has been stronger since last Friday as Trump floated reciprocal tariffs. That came after a good US NFP report where the data was mixed at best but still pointing to strength. The jump in average hourly earnings caught the eye but that might...
PU Prime Launches ‘Feather Your Trades’ Promotion to Support Traders & Enhance Confidence
PU Prime is launching Feather Your Trades, a promotion aimed at supporting traders in managing losses and maintaining confidence in their trading activities. Running from 15 January to 15 February 2025, clients can redeem up to $30 in Trade Loss Vouchers to offset...
BOE’s Mann says sided with 50 bps rate cut to “cut through the noise”
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
EU trade commissioner says US will be taxing its own citizens by imposing tariffs
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
USDJPY Technical Analysis – Focus on the US CPI report
Fundamental OverviewThe USD has been stronger since last Friday as Trump floated reciprocal tariffs. That came after a good US NFP report where the data was mixed at best but still pointing to strength. The jump in average hourly earnings caught the eye but that might...
EU trade commissioner says will act to safeguard economic interests amid Trump tariffs
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Europe should respond in a united manner to Trump’s tariffs, says French industry minister
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Reciprocal tariffs.. Yay or nay?
"If they charge us, we charge them."That is the premise that Trump is going with in wanting to impose reciprocal tariffs, in particular the US' main trading partners with those that have "relatively large trade deficits with the US and apply relatively high...