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BoC outlook survey highlights deteriorating trade expectations on tariff fears
The Bank of Canada's (BoC) Business Outlook Survey for the first quarter has shown that overlook economic activity expectations are contracting sharply as the United States (US) seeks to spark a global trade war across the board.
Mexican Peso tumbles to five-week low as tariff fears escalate, volatility soars
The Mexican Peso (MXN) plunges against the US Dollar (USD), extending its losses for the second consecutive day as risk appetite deteriorates, with traders moving into the safe-haven status of the Greenback.
EUR/USD Price Analysis: Euro eases slightly near 1.0900 but maintains bullish bias
The EUR/USD pair edged lower on Monday, slipping toward the 1.0900 zone after earlier testing the upper boundary of its daily range near 1.1050. Despite the intraday pullback, the pair holds onto a bullish structure supported by higher moving averages.
US President Trump vows additional 50% tariff on China as retaliation cycle escalates
United States (US) President Donald Trump continued his trend of issuing decrees via social media on Monday, lashing out over China';s tit-for-tat tariff retaliation last week.
GBP/USD crashes over 100 pips below 1.28 as trade war escalates
The Pound Sterling plunges over 100 pips or 0.90% against the Greenback at the beginning of the week, driven by recession fears and hopes cut short that the White House could reconsider their position in trade policies over the weekend.
WH Economic Adviser Hassett: Trump is considering a 90-day pause in tariffs for all except China
Kevin Hassett, Director of the US National Economic Council (NEC), told CNBC on Monday that US President Donald Trump is considering a 90-day pause in tariffs for all countries except China, as reported by Reuters.
USD/CAD trades higher around 1.4260 as Canadian Dollar underperforms
The USD/CAD pair rises to near 1.4260 during North American trading hours on Monday. The Loonie pair gains as the Canadian Dollar (CAD) faces selling pressure amid growing expectations that the Bank of Canada (BoC) could continue reducing interest rates this year.
EU Trade Commissioner Sefcovic: Offered zero-for-zero tariffs to US for cars and all industrial goods
European Union trade commissioner Maros Sefcovic said on Monday that a range of tariffs is hitting 380 billion Euros worth of EU exports of the US. "Some 70% of our total exports are facing tariffs," he added.
GBP edges slightly lower - Scotiabank
Pound Sterling (GBP) is soft, down a modest 0.2% vs. the USD and a mid-performer among the G10 currencies.
EUR gains modestly in tight range - Scotiabank
Euro (EUR) is quietly consolidating within a relatively tight range around the mid-1.09s and strengthening modestly vs. the USD, outpacing all the G10 currencies apart from the havens JPY and CHF.
Japan PMI Ishiba: Will continue to push US to review tariff policies
Japanese Prime Minister (PM) Shigeru Ishiba said on Monday that the told United States (US) President Donald Trump in a video meeting that Japan has made the biggest investment in the US for five straight years, per Reuters.
CAD holds range ahead of BoC Business Outlook Survey - Scotiabank
The Canadian Dollar (CAD) is remarkably stable considering the carnage playing out in stocks. Spot has held a tight range close to Friday's closing level throughout Asian and European trade.
USD mixed amid ongoing stock market weakness - Scotiabank
Stocks screens are a sea of red as investors register deepening concerns over the impact of US tariffs on the global economy. Are countries rushing to offer the US concessions on trade? So far, it seems only Vietnam and Cambodia have started talks to lift levies.
WH Trade Adviser Navarro: Any talk of recession seems silly given expected tax cuts
White House Trade Adviser Peter Navarro told CNBC on Monday that countries seeking a tariff relief need to lower non-tariff barriers, per Reuters.
EC President von der Leyen: We are ready to negotiate with US on tariffs
European Commission President Ursula von der Leyen said on Monday that they are ready to negotiate with the United States on tariffs, per Reuters.
WH Economic Adviser Hasset: Trump will listen to trading partners if they offer really great deals
In an interview with Fox News on Monday, Kevin Hassett, Director of the US National Economic Council (NEC), said that US President Donald Trump is doubling down on something he knows works and added that Trump will listen to trading partners if they offer "really great deals," per Reuters.
WTI plunges to near $60 on fears of global economic turmoil
West Texas Intermediate (WTI) recovers some intraday losses in European trading hours on Monday after sliding extensively to near $58.80 earlier in the day, the lowest level seen in four years. The Oil price is still 3% down near $60.40, at the time of writing.
US Dollar recovers further with DXY back above 103.00
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, recovers initial losses and trades near 103.00 at the time of writing on Monday after an earliest move lower.
Global investors reconsider their faith in the dollar's safe haven status - Commerzbank
The Federal Reserve finds itself in a tough spot as it navigates rising inflation and slowing growth.
Consequences for the USD exchange rates are reversed - Commerzbank
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.
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