EUR/USD TUMBLES LOWER ON TARIFF FEAR EUR/USD drops amid renewed tariff concerns. Trump confirms tariffs on Mexico, Canada, and a rise to 20% on China. 50% retracement of 2022 low and 38.2% of February range near 1.0406, a key technical level. Potential European tariffs adding further
The USD/JPY currency pair is falling below 149.50. Even though Japan's inflation and retail sales data were weak, the Japanese Yen remains strong. Investors are avoiding risks, which is helping the Yen. US Treasury bond yields are dropping, putting more pressure on USD/JPY. Traders are
US JANUARY PENDING HOME SALES INDEX HITS ALL-TIME LOW US January pending home sales drop 4.6%, worse than the expected -1.3%. Pending home sales index falls to 70.6, marking an all-time low. Year-over-year transactions down 5.2%, with prices up 4.7%. NAR cites elevated home prices
S&P 500 OPENS HIGHER AFTER NVIDIA’S SOLID EARNINGS. S&P 500 rises 0.5% following Nvidia’s strong earnings. Nasdaq Composite gains 0.7%. Dow Jones increases by 68 points, or 0.2%. Investor sentiment cautious after Trump confirms tariffs on Canada, Mexico, and China.
US Q4 GDP SECOND READING: 2.3% GROWTH MATCHES EXPECTATIONS Q4 2024 GDP growth revised to +2.3%, in line with expectations. Q3 GDP growth was +2.8%. Final sales for Q4 remained unchanged at +3.2%. Consumer spending grew by +4.2%, matching the advance estimate.
USDCHF TECHNICAL ANALYSIS: RISK-OFF FLOWS BOOST CHF USDCHF broke key support but is rising back above it. USD remains supported against most currencies amid risk-off sentiment. Weak US data (PMI, Consumer Sentiment, Confidence) impacts USD. Rising inflation expectations fuel concerns over the Fed's rate cuts. Market worries about
Inflation likely went down in February, especially in France. The drop in France is mainly due to lower electricity prices. In other Eurozone countries, inflation stayed mostly the same. Overall, prices are slowing down, but not in all areas. Services, like restaurants and transport, are still getting more expensive everywhere.
XRP REMAINS IN MURKY WATERS AS SEC DELAYS CASE AGAINST RIPPLE XRP drops 15% this week amid broader market losses. Ripple community hopes for an end to the SEC lawsuit. XRP holds support at $2.18, aiming for a bounce. Trump’s tariff threats contribute to XRP's decline
GBP/USD turns lower toward 1.2650 as US Dollar stays firm GBP/USD is going down toward 1.2650. The US Dollar is strong, stopping GBP/USD from rising. A better market mood is not helping GBP/USD go up. Worries about Trump's tariffs are limiting gains.
PBOC TO ISSUE SPECIAL TREASURY BONDS FOR STATE-OWNED BANKS PBOC Deputy Governor Lu Lei proposes issuing treasury bonds to boost state-owned banks' CET1 capital. Strengthening capital reserves will help manage risks and support the economy. PBOC aims to reform policy and development banking, with funds directed to tech and
TRUMP SAYS MEXICO, CANADA TARIFFS TO TAKE EFFECT MARCH 4 President Trump confirms tariffs on Mexico and Canada will begin March 4. The tariffs are aimed at addressing the flow of drugs into the U.S. China will face an additional 10% tariff starting on the same day. Announcement made
U.S. INITIAL JOBLESS CLAIMS RISE ABOVE EXPECTATIONS Initial jobless claims for the week total 242K, above the 221K estimate. Previous week’s initial claims revised to 220K from 219K. 4-week moving average for initial claims rises to 224K, up from 215.5K last week. Continuing claims come in at