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US President Donald Trump commented on Friday that he will maintain 10% universal tariffs on imports, even after trade agreements are reached with other countries. He added that there would be exemptions if their counterparts offered advantageous trading terms.Trump said to expect new trade deals in the coming weeks, but “we always have a baseline of 10%.” US-China Trade War FAQs Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and…
The US Dollar holds steady as global trade negotiations remain in focus.The PBoC continues Gold purchases, signaling long-term interest.Chinese Copper production expands, reducing reliance on imports.The Australian Dollar (AUD) remains under pressure as global trade uncertainties persist, particularly surrounding the US-China trade talks. While there has been a slight rebound in copper production from China, trade deals and economic policies continue to impact sentiment in the market, with limited positive moves for the Aussie.Daily digest market movers: Aussie steady ahead of trade talksThe US Dollar (USD) holds steady as the market reacts to trade deal uncertainties and key upcoming data.Copper…
White House Press Secretary Karoline Leavitt addressed media staff on Friday, walking back some of the tone and market interpretations of President Donald Trump’s early morning tweets.Key highlightsTrump confident in US Treasury Secretary Bessent with discussions (with China).The US needs to see concessions from China.Trump committed to the 10% baseline tariff.The 10% baseline tariff will remain for the UK.It is ridiculous that Trump would do anything for his own gain.The White House will let Congress work out SALT tax issue.On possible 80% tariff concession: That’s not what Trump said.Trump will not unilaterally bring down tariffs on China. 80% was a…
The Dow Jones shed around 150 points on Friday, falling back to 41,225.Investors are bracing for geopolitical tensions as the US and China head for initial trade talks.Even a social media post from President Trump pondering 80% tariffs could bolster market sentiment.The Dow Jones Industrial Average (DJIA) followed the broader market lower on Friday, falling below 41,250 as investors gear up for a tense weekend. The United States (US) and China are headed for opening trade talks in Switzerland this weekend, but policymakers from both administrations have cautioned that talks will be strictly preliminary. Chinese delegates have specifically warned that…
EUR/GBP trades near the 0.8500 zone after slipping modestly in Friday’s session.Short-term signals remain bearish despite mixed long-term support.Key support levels hold below, while resistance aligns just overhead.The EUR/GBP pair edged lower on Friday, trading near the 0.8500 zone after the European session as selling pressure remained consistent. The pair settled within the middle of its daily range, reflecting cautious sentiment despite the broader bearish tone. Short-term signals continue to weigh on the pair, while longer-term moving averages offer a more supportive backdrop.Technically, the pair is flashing a bearish overall signal. The Relative Strength Index (RSI) is neutral near 45,…
USD/CHF is trading near a critical support area as the US Dollar Index (DXY) reverses course ahead of US-China trade talks in Switzerland this weekend.Fed officials have highlighted stagflation risks, noting the potential for rising inflation and unemployment if tariffs remain elevated.Technically, the DXY faces immediate support at 100.2200 and resistance at 101.9000, while the USD/CHF could test its recent lows if the Dollar weakens further.The USD/CHF pair is navigating a critical juncture as it trades near a key support level, with broader market sentiment clouded by trade talk uncertainties. The US Dollar Index (DXY), which tracks the USD against…
US-UK trade deal supports the Sterling; Trump keeps 10% tariffs but opens broader market access.BoE cuts rates by 25 bps in three-way split vote and traders now see July as the earliest for another cut.DXY drops 0.37% to 100.26 as Fed officials strike cautious tone amid solid labor market and slowing growth outlook.The Pound Sterling (GBP) posted solid gains on Friday, edging up 0.41% after the announcement of a trade deal between the United States (US) and the United Kingdom (UK) on Thursday. However, a rate cut by the Bank of England (BoE) capped its gains, but the pair remains…
EUR/USD trades near the 1.1300 zone after gaining modestly in Friday’s session.Mixed short-term indicators contrast with a broadly bullish long-term structure.Key support holds just below, while resistance aligns near recent highs.The EUR/USD pair advanced modestly on Friday, trading near the 1.1300 zone after the European session. Price action remained contained within the day’s range, reflecting steady demand despite mixed short-term momentum signals. The broader technical picture, however, remains constructive, with long-term averages reinforcing the underlying bullish bias.Technically, the pair presents a mixed but generally positive outlook. The Relative Strength Index sits in neutral territory around 52, suggesting balanced momentum without…
Forex dealers said, the RBI sold Dollars to steady the Indian unit, which opened for trading nine paise weaker vis-a-vis the previous close. | Photo Credit: LeoWolfert The rupee recovered to close stronger on Friday despite flare up in the war between India and Pakistan and fall in domestic equity markets, with RBI reportedly intervening in the forex market.The rupee ended the day on a relatively strong note at 85.37 per US dollar as compared with the previous close of 85.71. Forex dealers said the RBI sold dollars to steady the Indian unit, which opened for trading nine paise weaker…
Forex traders said the rupee opened on a weak note on the escalation of hostility between India and Pakistan, however, RBI intervened to prevent major weakness The rupee pared its initial losses and settled for the day higher by 17 paise at 85.41 (provisional) against the US dollar on Friday, as likely intervention by the Reserve Bank of India helped contain excess depreciation of the rupee.Forex traders said the rupee opened on a weak note on the escalation of hostility between India and Pakistan, however, RBI intervened to prevent major weakness.At the interbank foreign exchange, the domestic unit opened at…