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: 2025.05.21
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Canadian FinMin: G7 weighs joint tariffs on low-value Chinese imports
World FX news
Breaking news
Canadian FinMin: G7 weighs joint tariffs on low-value Chinese imports
New
2025.05.21 11:48
2025.05.21 11:48
2025.05.21 11:48
Canada's Finance Minister François-Philippe Champagne confirmed on Wednesday that Group of Seven (G7) nations are mulling over coordinated efforts to impose levies on low-value Chinese imports.
Key quotes
G7 members considering addressing the issue of surge in inexpensive Chinese goods, which are often sold through e-commerce platforms at prices that evade traditional tariffs.
Overcapacity issues and non-market behavior are distorting global trade.
This comes after the United States (US) decided to revoke the so-called de minimis exemption for certain Chinese e-commerce shipments.
Last updated
: 2025.05.21
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AUD/USD: Likely to trade in a sideways range of 0.6400/0.6450 - UOB Group
Australian Dollar (AUD) is likely to trade in a sideways range of 0.6400/0.6450 vs US Dollar (USD). In the longer run, outlook is mixed; AUD is likely to trade in a range between 0.6370 and 0.6480, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.05.21 18:52Gas: Outages in Norway boost the market - ING
European natural Gas prices had a strong day yesterday, with the Title Transfer Facility (TTF) settling almost 5% higher, ING's commodity analysts Warren Patterson and Ewa Manthey note.
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2025.05.21 18:48USD: Hoping for some positive headlines from Canada - ING
Periods of data silence often serve as a useful gauge of the market's underlying bias in FX.
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2025.05.21 18:44ECB's Kazaks: ECB will soon reach terminal rate if baseline holds
European Central Bank (ECB) policymaker Martins Kazaks said on Wednesday, "the ECB will soon reach terminal rate if baseline holds."
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2025.05.21 18:42Silver Price Forecast: XAG/USD bulls have the upper hand near $33.15-$33.20 area, over one-week top
Silver (XAG/USD) reverses an intraday dip to the $33.00 neighborhood and climbs to over a one-week high during the first half of the European session on Wednesday. The white metal currently trades around the $33.15-$33.20 region, up 0.20% for the day, and seems poised to appreciate further.
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2025.05.21 18:37GBP/USD: Major resistance at 1.3445 is likely out of reach - UOB Group
Pound Sterling (GBP) could edge higher and test 1.3420; the major resistance at 1.3445 is likely out of reach for now. In the longer run, GBP could continue to rise; based on the current momentum, it might find 1.3445 difficult to break, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.05.21 18:34Silver price today: Silver rises, according to FXStreet data
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2025.05.21 18:31Geopolitical risks grow - ING
The oil market spiked in early morning trading on media reports suggesting that Israel could be planning a strike on Iranian nuclear facilities, ING's commodity analysts Warren Patterson and Ewa Manthey note.
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2025.05.21 18:28AUD/JPY remains steady near 93.00, downside appears due to hawkish tone surrounding BoJ
AUD/JPY remains steady and is holding ground near 92.80 during the Asian trading hours on Wednesday. The currency cross depreciated by more than 0.50% in the previous session following the interest rate cuts from the Reserve Bank of Australia (RBA) and the People's Bank of China (PBoC).
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2025.05.21 18:13Gold edges higher, reclaiming $3,300, on rising geopolitical tensions and US fiscal woes
Gold (XAU/USD) breaks higher on Wednesday towards $3,308 at the time of writing, fueled by concerns that tensions in the Middle East might spiral out of control again and US fiscal woes. In late trading on Tuesday, CNN reported that Israel is considering targeting nuclear sites in Iran.
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2025.05.21 18:01Disclaimer:
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