Trump might not think that… A Canadian government official is on the wires saying: – NAFTA is a trilateral agreement and that Canada will continue to negotiate that agreement Larry Kudlow said earlier that Trump was moving toward bilateral talks on NAFTA.
According to MUFG analyst, Lee Hardman That should be the case as also highlighted upon the data release, but it there’s always two sides to a trade. Cable is now eyeing a move towards 1.3400 as flows remain thin in the market so far today. And that always poses a bit of a danger.
Headlines via Bloomberg Oil is marked lower on the headline, and USD/CAD has risen to a session high of 1.2951 now. I’m not too sure why the market is too surprised though, as it was rumoured since two weeks ago that the OPEC discussions will be centred around a possible easing of supply cuts in…
HSBC’s global chief economist, Janet Henry, spoke to Bloomberg TV earlier Given the way the BOE toned down their rhetoric since April, it seems very much the case that they would only want to see proof that they can raise rates now before actually communicating. A bit of a lesson learned, but then again we’re…
Headlines via Reuters Looks like there may not be a delay to the nationwide sales tax hike next year. It is a contentious topic among Japanese lawmakers and officials as the last sales tax hike in 2014 saw a much larger reaction than expected towards the Japanese economy – which prompted a technical recession in…
Latest data released by Eurostat – 5 June 2018 A little bit of a miss on the monthly estimate, but the yearly estimate is in line with expectations. Couple that with positive revisions, and this is a decent if not good report.
USD/CAD whipsaw on the headlines USD/CAD goes for a ride. This is a tough one to handicap. Trump has surely eroded some good faith in the talks by imposing metals tariffs but at the end of the day, everyone wants a good deal. Previously, Canadian officials have said bilateral talks could be a non-starter.
White House economic adviser Larry Kudlow on the wires CAD falls and then jumps back on the headlines as USD/CAD hits 1.3000 before settling at 1.2975 at the moment.
Details released by Mexico’s economy ministry The tariffs reported above were rumoured earlier in the Asian session . So, this is basically just a confirmation of that. Since the earlier report was released, USD/MXN has been trading higher though with levels today touching the highest since February 2017:
Forex news from the European trading session – 5 June 2018 Headlines: Markets: – GBP leads, AUD lags on the day – European equities mostly higher, UK FTSE lower as sterling rises