After the Trump administration continued to impose global taxes on the imports of these two materials, Canada announced the imposition of new 25% tariffs on approximately 30 billion Canadian dollars (20.8 billion US dollars) worth of American products, including steel and aluminum. Canada’s retaliatory measures will also apply to consumer goods such as computers and […]
The Canadian dollar rose in volatile trading as trade war risks first spiked and then eased ahead of the Bank of Canada’s meeting on Wednesday, where policymakers are expected to cut interest rates to shield the economy from the threat of U.S. tariffs. The Canadian dollar rose 0.4% to 1.4380 against the US dollar after […]
Tech stocks suffered their biggest one-day drop since 2022 as investors’ concerns over an impending economic recession intensified. The Nasdaq 100 index plunged 3.8%, with Monday’s sell-off wiping out more than $1 trillion in market value. Meanwhile, the Bloomberg Big Seven Technology Index (an equal-weighted index tracking the largest U.S. technology stocks) dropped 5.4%, extending […]
The dollar index closed this week with its biggest weekly performance in more than two years as traders grew disappointed with the US exceptionalism and expected that trade policies would slow down the growth of the world’s largest economy. The Bloomberg Dollar Spot Index dropped 2.3%, marking the biggest weekly decline at the close since […]
On Thursday, the European Central Bank cut interest rates by 25 basis points to 2.65%, but immediately indicated that the rate-cutting phase might be coming to an end as inflation cools. The euro continued to rise. This led the money market to reduce bets on further action, and they now expect no more than two […]
Options market data indicates that traders are not optimistic that the euro, which has risen by 4% this week, will be able to sustain its strong momentum in the coming weeks. Previously, due to the breakdown of the mineral agreement negotiations between the United States and Ukraine, and Germany’s announcement of defense and infrastructure plans […]
The dollar fell on Tuesday as concerns over the economic impact of the trade war triggered by the United States pulled down US Treasury yields and sent stock prices plunging, prompting investors to flock to overseas safe-haven assets. The Bloomberg Dollar Spot Index dropped by 0.7% at one point, hitting its lowest level in a […]
US President Donald Trump confirmed that he would impose a 25% tariff on products from the two countries starting Tuesday, and the Canadian dollar and the Mexican peso immediately plunged. This is the latest in a series of trade statements from the US government, which have dealt a heavy blow to investors in the $7.5 […]
Last week, President Donald Trump’s tariff threats once again boosted the US dollar, but as there were signs that the US economy was cooling down and concerns that the trade war would further weaken the dollar, more and more investors began to short the US dollar. More and more dollar bears include asset management companies […]
Currency traders bought the US dollar after Trump confirmed that he would impose a 25% tariff on Canada and Mexico next week and raised the possibility of imposing new tariffs on China. The tested strategy led the Bloomberg Dollar Index to its biggest gain in three weeks. Currencies linked to Trump’s targets – the Mexican […]