Trade dispute weighs on outlook – Commerzbank

Trade dispute weighs on outlook – Commerzbank

Volkmar Baur at Commerzbank notes that new United States (US) tariffs of 50% on selected Canadian dairy, alcohol and automobile products under Section 338 will remove United States-Mexico-Canada Agreement (USMCA) exemptions. While the Canadian Dollar’s (CAD) initial reaction was muted, he argues this trade dispute will dominate CAD news in coming weeks and that the […]

XAG/USD surges to near $58.20 as oil price rally hits pause

XAG/USD surges to near .20 as oil price rally hits pause

Silver price (XAG/USD) is up over 3% to near $58.20 during the early European trading session on Tuesday. The white metal surges as the rally in oil prices has halted amid hopes of renewed diplomatic efforts between the United States (US) and Iran after significant military aggression in the past few weeks. At press time, […]

British Pound struggles as traders evaluate BoE policy, UK political developments

British Pound struggles as traders evaluate BoE policy, UK political developments

GBP/USD steadies after three days of losses, trading around 1.3430 during the Asian hours on Tuesday. After recently surging toward two-month highs near 1.3550, the pair has moderated as foreign exchange traders evaluate shifting monetary policies between the Bank of England (BoE) and the US Federal Reserve (Fed) alongside political developments in the United Kingdom […]

Upside bias against US Dollar below 6.7820 – UOB

Upside bias against US Dollar below 6.7820 – UOB

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann see USD/CNH consolidating intraday between 6.7710 and 6.7820 after quiet recent trading. For the next 1–3 weeks, the pair is expected to trade with a downside bias toward 6.7600, provided 6.7820 strong resistance is not clearly breached. On a multi-month view, a sustained recovery […]