Created
: 2025.07.10
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
Forex Today: Trump tariff letters keep markets on edge
World FX news
Breaking news
Forex Today: Trump tariff letters keep markets on edge
New
2025.07.10 17:32
2025.07.10 17:32
2025.07.10 17:32
Here is what you need to know on Thursday, July 10:
Market participants stay away from risk-sensitive assets on Thursday as they try to assess the potential impact of the United States' ever-evolving trade policy on growth and inflation outlook. In the second half of the day, weekly Initial Jobless Claims data will be featured in the economic calendar. Investors will also pay close attention to comments from Federal Reserve (Fed) officials.
US Dollar PRICE This week
The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.47% | 0.35% | 1.52% | 0.57% | 0.06% | 0.80% | 0.09% | |
| EUR | -0.47% | -0.10% | 0.81% | 0.08% | -0.34% | 0.32% | -0.39% | |
| GBP | -0.35% | 0.10% | 0.90% | 0.21% | -0.23% | 0.43% | -0.41% | |
| JPY | -1.52% | -0.81% | -0.90% | -0.72% | -1.23% | -0.49% | -1.35% | |
| CAD | -0.57% | -0.08% | -0.21% | 0.72% | -0.48% | 0.23% | -0.62% | |
| AUD | -0.06% | 0.34% | 0.23% | 1.23% | 0.48% | 0.77% | -0.17% | |
| NZD | -0.80% | -0.32% | -0.43% | 0.49% | -0.23% | -0.77% | -0.84% | |
| CHF | -0.09% | 0.39% | 0.41% | 1.35% | 0.62% | 0.17% | 0.84% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
US President Donald Trump shared a new set of tariff letters on Wednesday and reiterated his warnings of imposing an additional 10% tariff on any country that aligns with the BRICS group. Additionally, Trump said that the 50% tariff on copper imports will go into effect on August 1. Libya, Algeria and Philippines are among the countries that received letters notifying them of tariffs between 20% and 30%. Wall Street's main indexes registered moderate gains on Wednesday. Early Thursday, US stock index futures are down about 0.2% and the US Dollar (USD) Index stays flat on the day at around 97.50.
The minutes of the Fed's June policy meeting showed on Wednesday that most participants anticipated that rate cuts would be appropriate later this year, noting that any price shock from tariffs was expected to be "temporary or modest."
The Brazilian Real stays under heavy selling pressure on Thursday, with the USD/BRL pair rising more than 1% on a daily basis near 5.54. Trump said on Wednesday that Brazil will be subject to 50% tariffs if they don't stop the "Witch Hunt" against its right-wing former president, Jair Bolsonaro.
EUR/USD extends its sideways grind below 1.1750 after closing the day virtually unchanged on Wednesday. "We are working non-stop to find an initial agreement with the US to keep tariffs as low as possible and to provide the stability that businesses need," European Commission President Ursula von der Leyen said on Thursday.
GBP/USD holds its ground and trades slightly above 1.3600 after closing marginally lower on Wednesday.
Following a two-day rally, USD/JPY lost its traction and ended the day in negative territory on Wednesday. The pair struggles to find direction early Thursday and trades comfortably above 146.00.
After losing about 1% on Thursday, Gold failed to stage a decisive rebound on Wednesday and posted small gains. XAU/USD stays relatively quiet early Wednesday and trades near $3,320.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.07.10
Related articles
EUR/USD slides below 1.1700 as tariff fears lift Dollar to 2-week high
2025.07.12 07:26USD/CHF Price Forecast: Holds firm below 0.8000 on US Dollar demand
2025.07.12 05:44Fed's Goolsbee warns that new tariff threats could hamper rate cut hopes
2025.07.12 05:24Canadian Dollar tests low side despite upswing in Canadian labor data
2025.07.12 05:18AUD/USD stalls at key 0.6600 resistance amid mixed market catalysts
2025.07.12 04:15EUR/CHF Price Forecast: Bearish momentum grows within consolidation range
2025.07.12 03:24
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
EUR/USD slides below 1.1700 as tariff fears lift Dollar to 2-week high
EUR/USD finished the week with losses of over 0.70% and ended Friday's session down 0.10% trading below the 1.1700 figure, cementing the case for a pullback to test key support levels as the Greenback posts its best week in four months. At the time of writing, the pair trades at 1.1688.
New
2025.07.12 07:26Copper prices steady as refining constraints and tariff fears persist
Copper futures are trading near $5.50 per pound on Friday, slipping from Tuesday's high of $5.70 on the daily timeframe.
New
2025.07.12 06:29USD/CHF Price Forecast: Holds firm below 0.8000 on US Dollar demand
The USD/CHF consolidates during the North American session, is flat below the 0.8000 figure, poised to finish the week with 0.36% gains. A risk-off mood bolstered the Greenback, which so far has recovered some ground during the current week.
New
2025.07.12 05:44FHFA Director suggests that Fed Chair Powell may be considering resigning
Bill Pulte, the Trump-selected Director of the Federal Housing Finance Agency and former chairman of Fannie May and Freddie Mac, nodded to entirely-uncomfirmed reports that Federal Reserve (Fed) Chair Jerome Powell may be considering resigning from his post as the head of the Fed.
New
2025.07.12 05:37Fed's Goolsbee warns that new tariff threats could hamper rate cut hopes
In an interview with the Wall Street Journal, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee warned that ongoing trade policy at the hands of Trump's constant tariff threats could hamper the ability of the Fed to deliver interest rate cuts that both the broader market and Donald Tru
New
2025.07.12 05:24Canadian Dollar tests low side despite upswing in Canadian labor data
The Canadian Dollar (CAD) tested lower ground against the US Dollar (USD) on Friday, shedding weight despite Canadian labor data figures outperforming median market forecasts by a sizeable margin, kicking back economic downturn concerns and forcing rate watchers to trim their bets of another Bank of
New
2025.07.12 05:18AUD/USD stalls at key 0.6600 resistance amid mixed market catalysts
The battle between the Australian Dollar (AUD) and the US Dollar (USD) persists on Friday, with bulls in the AUD/USD pair continuing to push for a break through the next major resistance level at 0.6600.
New
2025.07.12 04:15Gold price surges past $3,350 as Trump tariff threats jolt markets
Gold price rallies nearly 1% on Friday as the market mood shifts sour on controversial trade policies imposed by US President Donald Trump on Canada and threatening to broaden duties to other countries and Copper.
New
2025.07.12 03:51Dow Jones Industrial Average backslides as trade war rhetoric accelerates again
The Dow Jones Industrial Average (DJIA) snapped a two-day recovery on Friday, testing below the 44,400 level once again as equities grapple with a new reality where trade tariffs exist in a quantum state, prone to popping in and out of existence at a moment's notice.
New
2025.07.12 03:34EUR/CHF Price Forecast: Bearish momentum grows within consolidation range
The Euro (EUR) remains under pressure against the Swiss Franc (CHF) on Thursday, trading near the lower boundary of its multi-week consolidation range between 0.9300 and 0.9430.
New
2025.07.12 03:24Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
