LMAX Group Research Desk
LMAX Group
There was some initial US Dollar selling as the market felt relief that President Trump would hold back from any major announcements relating to trade tariffs. But all of that has since fallen apart after Trump went ahead and announced 25% tariffs on Canada and Mexico from February 1.
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GBP/USD declines toward 1.2900 after weak UK data
GBP/USD loses its traction in the European morning on Friday and declines toward 1.2900. The data from the UK showed that the Gross Domestic Product contracted by 0.1% on a monthly basis in January, while Manufacturing Production decreased by 1.1%, weighing on Pound Sterling.
EUR/USD drifts lower below 1.0850 on US-EU tariff dispute
The EUR/USD pair edges lower to around 1.0835 during the Asian trading hours on Friday. The Euro weakens against the US Dollar amid an escalating trade war between the United States and the European Union.
Gold price consolidates near record high; remains close to $3,000 amid rising trade tensions
Gold price remains well supported by the uncertainty surrounding Trump’s aggressive trade policies. Fed rate cut bets further benefit the yellow metal, though a modest USD uptick caps further gains. An improvement in global risk sentiment would further warrant some caution for the XAU/USD bulls.
Cardano could hit $0.50 despite high probability of US Fed rate pause
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Brexit revisited: Why closer UK-EU ties won’t lessen Britain’s squeezed public finances
The UK government desperately needs higher economic growth as it grapples with spending cuts and potential tax rises later this year. A reset of UK-EU economic ties would help, and sweeping changes are becoming more likely.
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