USD mixed as markets digest latest tariff news – Scotiabank
Markets are having a relatively muted reaction to the most up-to-date round of tariff threats from President Trump—25% tariffs on all steel and aluminum imports, efficient March 12th, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
USD trades mixed to a little bit of lower in easy alternate
“The EU has stated this could occasionally reply. Australia’s early demand an exemption will be conception to be by the president. It is presumably the delayed implementation that is leaving markets cautious however a bit frigid on trends—there could be time for talks to barter the tariff threat away presumably. Trading total seems to be exquisite easy—a lull within the action after remaining week’s market swings. Tokyo markets had been closed earlier.”
“The US Dollar (USD) is trading a bit lower on the session total, with the Dollar Index (DXY) losing a bit ground on the lend a hand of a accurate to a little bit of less assailable Euro (EUR). The CAD is underperforming however losses are gentle (lower than 0.2%). Shares are flat to a little bit of lower and bonds are broadly lower across major markets. More tariff talk means doubtlessly slower development and upward pressure on prices. Extreme is up a bit while copper and iron ore are lower. Gold hit a new story excessive of $2942 earlier on haven search records from of however has since edge lend a hand to little changed.
“It’s a lightweight day for records however Fed Chair Powell delivers his semi-annual testimony to Senate lawmakers nowadays (Home the next day). Willing remarks open round 10ET. Feedback are inclined to underscore the Fed is on preserve for, presumably for a long length, which could presumably well merely give the USD a little rep shut.”
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