GBP/USD falls to near 1.2400 due to risk-off sentiment following Trump tariff threats
GBP/USD continues its losing streak for the fourth successive session, trading around 1.2420 during the Asian hours on Friday. This downside is attributed to the improved US Dollar (USD) amid increased risk aversion following renewed tariff threats from US President Donald Trump.
President Trump reiterated plans late Thursday to impose a flat 25% import tax on all goods entering the US from Canada and Mexico, citing concerns over fentanyl. The first wave of tariffs on both countries is set to take effect on February 1, according to Reuters. Additionally, Trump hinted at the possibility of imposing tariffs on Canadian and Mexican Oil exports. He also reaffirmed his threat on X (formerly Twitter) to levy 100% tariffs on BRICS nations if they attempt to introduce an alternative currency to challenge the US dollar in international trade. Read more...
GBP/USD sheds weight amid thin Thursday ahead of key US data
GBP/USD soured slightly on Thursday, shedding a scant one-fifth of one percent as markets grapple with mixed headwinds and keep risk appetite underbid. US President Donald Trump reiterated threats to impose stiff tariffs on Canada and Mexico as soon as February 1, with fresh threats in the pipe for import fees on Chinese goods and Crude Oil products.
US economic data came in mixed on Thursday, further flummoxing markets. US Gross Domestic Product (GDP) growth in the fourth quarter of 2024 came in below expectations, but weekly Initial Jobless Claims figures beat expectations while remaining well within recent norms. Read more...
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EUR/USD keeps the bullish bias intact around 1.0500
A mild rebound in the Greenback prompts EUR/USD to recede from earlier peaks and settle around the 1.0500 neighbourhood on Tuesday, while market participants keep monitoring developments around US tariffs.
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GBP/USD comes under pressure, revisits 1.2650
GBP/USD failed to extend its rebound further north of the 1.2680 zone on Tuesday, sparking instead a corrective move to the mid-1.2600s amid a mildt bounce in the Greenback.
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Gold deflates below $2,900, six-day lows
The corrective move in Gold prices remains well and sound and now prompts the yellow metal to breach the key $2,900 mark per ounce troy despite the intense downside bias in the US Dollar and the generalised decline in US yields.
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Bitcoin edges below $90,000, ending its long streak of consolidation
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