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Tag: Forex News Round Up

USMCA to take Effect on H2 2019

The new trade agreement between the United States, Mexico and Canada could go into effect from the second half of 2019, Mexican Economy Minister Ildefonso Guajardo said on Monday. “I think that it could be coming into effect in the second part of (20)19,” Guajardo told Mexican radio. via Reuters

USMCA Win Does Not Mean US Softening on China

A last-gasp deal to salvage the North American Free Trade Agreement (NAFTA) does nothing to improve the prospect of a meaningful breakthrough in the U.S.-China trade war, one market expert told CNBC on Monday. Just hours before a midnight deadline, U.S. and Canadian officials reached a deal to revamp NAFTA, which also includes Mexico, after […]

USMCA to Exclude Mexico and Canada from Auto Tariffs

The new U.S.-Mexico-Canada Agreement on trade will preserve President Donald Trump’s ability to impose threatened 25 percent global tariffs on autos while largely exempting passenger vehicles, pickup trucks and auto parts from Canada and Mexico, a side-letter to the agreement showed on Monday. Should U.S. President Donald Trump impose “Section 232” autos tariffs on national […]

US Auto Sector Rises After US Canada Agreement

Automobile manufacturers Ford and General Motors rallied Monday after the United States and Canada struck a last-minute deal to replace the North American Free Trade Agreement late Sunday night. General Motors shares rallied 1.8 percent in premarket trading Monday, while Ford rose 2.1 percent. Parts manufacturer Lear Corporation rose 3.5 percent. The pending United States-Mexico-Canada […]

Trump to Hold US Canada Agreement Press Conference at 11am EDT

President Donald Trump hailed Canada on Monday after the two countries forged a last-minute deal to salvage their trilateral NAFTA accord with Mexico, marking a key victory in the U.S. leader’s effort to shake up global trade. The deal, announced on Sunday, is a reworking of the 1994 North American Free Trade Agreement, which underpins […]

OPEC Could be Powerless to Stop $100 Oil

OPEC kingpin Saudi Arabia is ill-equipped to prevent a supply shock in the energy market, analysts told CNBC on Monday, as oil traders prepare for the possibility of $100 a barrel before year-end. “Nobody wants to get caught short, full in the knowledge that more Iranian barrels are poised to be removed from the market,” […]

Gold slips as USD find support from the FOMC

(Reuters) – Gold prices dipped on Monday as the dollar firmed in the wake of indications from the U.S. Federal Reserve last week that it will pursue a tighter monetary policy. The Fed raised U.S. interest rates last week and said it planned four more increases by the end of 2019 and another in 2020, […]

Brent trades near four year high

SINGAPORE (Reuters) – Oil prices opened firmly on Monday, with Brent hovering close its highest in nearly four years ahead of U.S. sanctions against Iran that kick in next month. There had been expectations China would ignore U.S. sanctions. However, China’s Sinopec (600028.SS) is halving loadings of crude oil from Iran this month, in a […]

Trump called King Salman over the weekend to discuss oil supplies

SHAFAQNA- Days after the U.S. president criticized OPEC for high oil prices at the United Nations General Assembly and he requested to stop raising prices, and to start lowering prices, Saudi state news agency SPA reported that Trump and Saudi Arabia’s King Salman discussed efforts being made to maintain supplies to ensure oil market stability and global economic growth. They also […]

Sinopec halves Iran loadings

BEIJING/SINGAPORE, Sept 28 (Reuters) – China’s Sinopec Corp is halving loadings of crude oil from Iran this month, as the state refiner comes under intense pressure from Washington to comply with a U.S. ban on Iranian oil from November, said people with knowledge of the matter. The sources did not specify volumes, but based on […]