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GBP recovers recent losses – Scotiabank
GBP recovers recent losses – Scotiabank
Pound Sterling (GBP) is up a modest 0.5% vs. the US Dollar (USD) and retracing a portion of its recent losses, Scotiabank's Chief FX Strategist Shaun Osborne notes on Wednesday.
Technical Analysis
Banks
GBPUSD
EUR cheers German political developments – Scotiabank
EUR cheers German political developments – Scotiabank
The Euro (EUR) is up an impressive 0.8% vs. the US Dollar (USD) and outperforming most of the G10 currencies with the exception of AUD and CHF, recovering its recent losses and pushing back toward last week’s highs, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
EURUSD
Banks
Breaking: FOMC Minutes suggest high inflation could be more persistent
Breaking: FOMC Minutes suggest high inflation could be more persistent
The Minutes revealed that Federal Reserve policymakers almost unanimously agreed that the U.S. economy was at risk of experiencing both higher inflation and slower growth. They noted that “difficult tradeoffs” could lie ahead for the central bank.
Breaking
Fed
SEO
CentralBanks
DollarIndex
Fed’s Kashkari: No monetary policy response should be off the table
Fed’s Kashkari: No monetary policy response should be off the table
Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, warned on Wednesday that last week’s wide-ranging tariffs could unsettle people’s expectations about inflation.
Fed
InterestRate
DollarIndex
Currencies
Inflation
German coalition outlines policy agreements
German coalition outlines policy agreements
Policy document from the new German coalition
Politics
CAD holds range despite headwinds from risk, commodities – Scotiabank
CAD holds range despite headwinds from risk, commodities – Scotiabank
Canada’s 25% counter tariffs on non-USMCA compliant vehicles came into force just after midnight, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
Canada
BOC
USDCAD
Banks
USD: US markets wilt under tariff pressure – Scotiabank
USD: US markets wilt under tariff pressure – Scotiabank
Yesterday’s hopes for some moderation in US tariff policy met the reality of 104% tariffs on China and President Trump’s other levies being imposed as of midnight last night, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
Fed
Banks
DollarIndex
Why gold is a good place to hide after a crisis
Why gold is a good place to hide after a crisis
What does history say about gold's performance after an economic shock
ForexLive European FX news wrap: Market mayhem continues as China retaliates on tariffs
ForexLive European FX news wrap: Market mayhem continues as China retaliates on tariffs
Forex news from the European morning session on Apr 9, 2025
Session wrap
Wrap Europe
US Treasury Sec. Bessent: US has a strong Dollar policy
US Treasury Sec. Bessent: US has a strong Dollar policy
In an interview with Fox Business Network on Wednesday, US Treasury Secretary Scott Bessent said China's decision to raise tariffs on US imports to 84% is "unfortunate," per Reuters.
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Macroeconomics
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China
Politics
EUR/USD edges higher amid flat momentum – OCBC
EUR/USD edges higher amid flat momentum – OCBC
Euro (EUR) ticked higher vs US Dollar (USD) and was last seen at 1.1044 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Technical Analysis
EURUSD
TradeWar
Banks
China can raise their tariffs but so what? - Bessent
China can raise their tariffs but so what? - Bessent
US Treasury secretary, Scott Bessent, speaks to Fox Business
USD/JPY: Short squeeze soon? – OCBC
USD/JPY: Short squeeze soon? – OCBC
USD/JPY dipped this morning. Safe-haven demand was the main catalyst while UST-JGB yield differentials also narrowed. Pair was last at 144.74 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Technical Analysis
USDJPY
Banks
USD/CAD tumbles below 1.4200 as US Dollar dives amid US recession fears
USD/CAD tumbles below 1.4200 as US Dollar dives amid US recession fears
The USD/CAD pair falls sharply to near 1.4180 during European trading hours on Wednesday. The Loonie pair faces an intense sell-off as the US Dollar (USD) takes bullet for United States (US) President Donald Trump raising import duty on China to 104%.
Canada
TradeWar
Fed
USDCAD
UnitedStates
China premier Li: We are prepared to deal with uncertainties
China premier Li: We are prepared to deal with uncertainties
Remarks by China premier, Li Qiang, via state media
Oil continues to crater in the wake of a US-China trade war
Oil continues to crater in the wake of a US-China trade war
WTI crude dips to $56, its lowest since February 2021
US Dollar drops while President Trump says markets to be cool
US Dollar drops while President Trump says markets to be cool
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, extends the previous day’s correction and hovers around 102.00 at the time of writing on Wednesday.
TradeWar
UnitedStates
SEO
Macroeconomics
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Brent falls below key 2024 support – Societe Generale
Brent falls below key 2024 support – Societe Generale
Brent crude has extended its decline after breaching key support levels from earlier in 2024. While momentum indicators suggest the move is stretched, signs of a significant rebound remain elusive, Societe Generale's FX analysts report.
Oil
Brent
Banks
Euro shows unexpected safe haven strength – Rabobank
Euro shows unexpected safe haven strength – Rabobank
Following President Trump's tariff announcement, the euro has shown surprising resilience, acting more like a safe haven currency alongside the Swiss franc and Japanese yen.
Technical Analysis
EURUSD
Banks
Fundamental Analysis
Breaking: China announces additional 84% tariffs on US goods from April 10
Breaking: China announces additional 84% tariffs on US goods from April 10
China's Finance Ministry said on Wednesday that they will impose additional 84% tariffs on US imports from April 10, per Reuters, up from the 34% previously announced.
Breaking
China announces additional 84% tariffs on US goods
China announces additional 84% tariffs on US goods
The additional tariffs are to go into effect on 10 April
market overview
US MBA mortgage applications w.e. 4 April +20.0% vs -1.6% prior
US MBA mortgage applications w.e. 4 April +20.0% vs -1.6% prior
Latest data from the Mortgage Bankers Association for the week ending 4 April 2025
China complains to the WTO on "reckless" US tariffs
China complains to the WTO on "reckless" US tariffs
Not like this is going to do anything
market overview
Silver Price Forecast: XAG/USD rallies above $30 as US Dollar tumbles on US-China tariff war
Silver Price Forecast: XAG/USD rallies above $30 as US Dollar tumbles on US-China tariff war
Silver price (XAG/USD) surges almost 2% to near $30.40 during European trading hours on Wednesday. The white metal strengthens as the US Dollar (USD) tumbles amid fears that the escalating trade war between Washington and Beijing could lead the United States (US) economy into a recession.
Silver
Recession
SupportResistance
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ECB's Escriva: Worst case scenarios are materialising - FT
ECB's Escriva: Worst case scenarios are materialising - FT
Bank of Spain Governor, Jose Luis Escriva in an interview with the Financial Times
Stocks dip back lower ahead of US trading
Stocks dip back lower ahead of US trading
It felt like the buying earlier had a lot of copium in it
MXN: Inflation figures are unlikely to provide new information – Commerzbank
MXN: Inflation figures are unlikely to provide new information – Commerzbank
This afternoon the Mexican statistics office will release the March inflation figures. However, they are unlikely to tell us much new, Commerzbank's FX analyst Michael Pfister notes.
Mexico
USDMXN
Banxico
Banks
USD/CNH: Any advance is likely part of a higher range of 7.3600/7.4420 – UOB Group
USD/CNH: Any advance is likely part of a higher range of 7.3600/7.4420 – UOB Group
Further US Dollar (USD) strength is not ruled out vs Chinese Yuan (CNH), but any advance is likely part of a higher range of 7.3600/7.4420.
Technical Analysis
USDCNH
Banks
EUR/USD rallies as China retaliates with higher counter-tariffs on US
EUR/USD rallies as China retaliates with higher counter-tariffs on US
EUR/USD advances to near 1.1100 in Wednesday’s North American session. The major currency pair strengthens as the US Dollar (USD) plummets on the brewing trade war between the United States (US) and China.
ECB
China
EURUSD
Fed
SEO
How fast is too fast for the SNB? – Commerzbank
How fast is too fast for the SNB? – Commerzbank
The Swiss franc has emerged as a clear winner amidst the recent market turbulence following Donald Trump's tariff announcement, appreciating significantly against major currencies.
Banks
Technical Analysis
EURCHF
SNB
Switzerland