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Dollar Mixed as EU Trade Spat Escalates

The US dollar is mixed against major pairs. Safe havens like the Swiss franc, Japanese yen and the euro have gained against the greenback, while the Canadian and New Zealand dollars along with the pound are lower. Strong data in Europe boosted the single currency but the rally was short lived after the Trump administration […]

BMW Warns on Negative Effects of Brexit

The car giant BMW has followed plane maker Airbus in warning of the adverse consequences of Brexit. BMW UK boss Ian Robertson told the BBC it needed clarity by the end of the summer. It makes the Mini and Rolls Royce in the UK. Earlier, Airbus warned it could leave the UK if it exits […]

US Could Place 20% Tariffs on European Cars

President Donald Trump on Friday threatened to escalate a trade war with Europe by imposing a 20 percent tariff on all U.S. imports of European Union-assembled cars, a month after the administration launched an investigation into whether auto imports pose a national security threat. “If these Tariffs and Barriers are not soon broken down and […]

US To Appeal WTO Trade Dispute Rulings

The statement by U.S. Ambassador Dennis Shea threatened to erode a key element of trade enforcement at the 23-year-old WTO: binding dispute settlement, which is widely seen as a major bulwark against protectionism. It came as U.S. President Donald Trump, who has railed against the WTO judges in the past, threatened to levy a 20 […]

Trade War Could Trigger Recession says BofA

Even as growth ramps up to what could be the fastest rate since before the financial crisis, economists are worried that a trade war could tip the U.S. into a significant slowdown or even a recession. Fears over a GDP pullback come as President Donald Trump threatens another, more severe round of tariffs aimed both […]

OPEC Agrees to Increase Production by 1M Barrels

OPEC agreed on Friday on a modest increase in oil production from July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate amid calls from major consumers to help reduce the price of crude and avoid a supply shortage. Two OPEC sources said the group agreed that OPEC and its allies led by Russia […]

CANADA: Consumer Price Index, May 2018

The Consumer Price Index (CPI) rose 2.2% on a year-over-year basis in May, matching the increase in April. Component highlights All eight major components increased on a year-over-year basis in May, although five of the eight major components grew at a slower rate. The transportation index rose 5.6% in May, following a 4.7% increase in […]

USD/CAD – Canadian dollar edges higher ahead of CPI, retail sales

The Canadian dollar is showing slight gains in the Friday session. Currently, USD/CAD is trading at 1.3276, down 0.30% on the day. On the release front, Canada will publish key consumer data. CPI, the primary gauge of consumer spending, is expected to edge up to 0.4%. The markets are expecting mixed signals from retail sales […]

Stocks, EUR rally on data; oil higher ahead of OPEC meet

Friday June 22: Five things the markets are talking about Euro equities are on the rise, along with U.S stock futures, as Euro manufacturing and services data this morning beat analysts’ expectations, dragging along with it the EUR (€1.1667). Crude oil prices start Friday better bid, after OPEC and its allies are rumoured to have […]

EUR/USD – Euro Gains Ground on Strong Services PMIs

EUR/USD has posted gains in the Friday session, continuing the upward trend we saw on Thursday. Currently, the pair is trading at 1.1639, up 0.32% on the day. On the release front, the focus is on manufacturing and services PMIs. Germany and the eurozone posted Services PMIs of 53.9 and 55.0, respectively, both of which […]