|Day's Range||0.052 - 0.053|
|52 Week Range||0.0484 - 0.0544|
The RBA Meeting minutes revealed that the Bank would keep the doors open for further ease in the monetary policy by a quarter-point soon. The Euro pair and Cable suffered some huge pullbacks today.
Downside for U.S. corporate earnings from China, Mexico trade war should be minimal, writes Mark Hulbert.
Last week, tariffs on Mexico increased the chances the Fed would cut rates. Investors obviously like that. So, stocks rallied. This week, Trump backs off those tariffs. Investors apparently like that, too. Stocks again are rallying. What’s going on?
US JOLTS Job Openings data came out as 7.449 million over 7.240 million expectations. Mexican Peso soared more than 2% over US-Mexico trade deal. Investors seemed to lose interest over Cable, Euro, and Yen.
Now all investors’ attention again turned to disputes between China and the United States, and markets are hoping for a breakthrough in negotiations after Trump and Xi Jinping meet on the G20 (June 28-29).
Friday’s weak US payrolls have convinced the world that the Fed needs to act, with the weekend news flow centred not just on when the Fed cut, but whether the cuts are front-loaded, with some calls even for a chunky 50bp in the July meeting.
USD/INR declined as RBI cuts interest rates by 25 bps making the repo rate to 5.75%. USD/MXN pair hovered near its monthly high amid rising US tariff concerns. Fiber soars over unchanged Interest rate decision.
The Australian dollar strengthens slightly against its developed peers on Tuesday after the country’s central bank became the largest developed economy to cut interest rates this year.
The dollar edges lower versus most major rivals — but extends gains versus the Mexican peso — as trade-war jitters continue to cast a cloud over the U.S. outlook.
The largest exchange-traded fund to track Mexico's equity market fell sharply Friday, after U.S. President Donald Trump threatened to place escalating tariffs on all Mexican imports in an effort to force the country to slow the flow of Central American asylum seekers to the southern U.S. border. The iShares MSCI Mexico ETF fell 4.4% but was off initial lows. The ETF traded as low as $42.14, its lowest since March 14. The Mexican peso was off nearly 3% versus the U.S. dollar . The tariff threat rattled global markets, with investors already nervous about global growth prospects in part due to the continued U.S.-China trade battle. U.S. stocks traded sharply lower, with the S&P 500 off 1.3%. The Dow Jones Industrial Average dropped more than 300 points, or 1.2%, to 24,865.
The yen jumps as President Donald Trump’s surprise decision to threaten Mexico with tariffs in an effort to curb immigration sent shock waves through global markets, sparking haven-related demand for the Japanese currency. The Mexican peso plunges.
The Mexican peso fell to its weakest level in over two months against the U.S. dollar on Friday after a surprise announcement by President Donald Trump to impose tariffs on that country in retaliation over a heavy flow of migrants across the border. The peso slid to 19.638, a drop of 2.6% on the session and level not seen since roughly March, according to Factset Research. In a tweet late Thursday, Trump said the U.S. would impose a 5% tariff on all Mexico imports until that country stops the flow of illegal immigrants into the country. He said the tariffs will rise to 10% on July 1 if the crisis persists, and by another 5% for every successive month, up to 25% by Oct. 1. The news drove investors to the Japanese yen, a haven asset in times of economic and geopolitical worries, with the U.S. dollar falling to 108.90 yen, a drop of 0.6% on the session. The ICE Dollar Index eased 0.05% to 98.091.
Blackspark Capitol CEO Jose Barrionuevo talks to Yahoo Finance to discuss the implications of the U.S. and Mexico agreement.
After the selloff in December, Chief Fixed Income Strategist Kathy Jones of Charles Schwab says investors are back with a "big appetite for risk" in sectors like emerging currencies. Yahoo Finance’s Alexis Christoforous speaks to her.