The Mexican peso is rallying against its American counterpart on Monday after officials announced a new US-Mexico trade agreement that would scrap the North American Free Trade Agreement (NAFTA) name because of âbad connotations.â The two nations will now wait to see if Canada will agree to a bilateral pact with Washington. After months of tough negotiations, the US and Mexico reached a deal that they say will … “Mexican Peso Rallies on US-Mexico Trade Agreement”
Author: admin_mm
Canadian Dollar Rallies amid NAFTA Hopes
The Canadian dollar rallied against its major peers today (though failed to gain on the strong euro) after the United States and Mexico reached a preliminary trade agreement, giving hope that the similar deal can be reached with Canada. Over the weekend, the USA and Mexico reached a preliminary deal that should replace the North American Trade Agreement. While Canada was excluded from the negotiations, the success of the talks led to hopes … “Canadian Dollar Rallies amid NAFTA Hopes”
US-Mexico deal: Congress may have its say on Trump trying to exclude Canada
The US and Mexico have reached a new NAFTA deal and Canada is set to join. Trump portrays it as the bilateral deal he always wanted and threatens Canada. Congress may have its say, in one composition or another. After long negotiations during the summer, the US and Mexico have agreed on the details of … “US-Mexico deal: Congress may have its say on Trump trying to exclude Canada”
US GDP: Watch the weight of exports, Fed expected to hike in any case
The second release of US GDP is expected to show a small downgrade. Changes in the composition of growth will be of interest. A drop below 4% annualized will inflict some political damage but is unlikely to derail the Fed. The US releases the second version of Q2 GDP on Wednesday, August 29th, at 12:30 … “US GDP: Watch the weight of exports, Fed expected to hike in any case”
Euro Halts Drop to Rally Higher on Upbeat German IFO Data
The euro today halted its slide against against the US dollar following the release of the upbeat German IFO business survey data in the early European session. The EUR/USD currency pair was under intense selling pressure today as the greenback recovered from Friday’s selloff, which was triggered by the Fed Chair Jerome Powell‘s dovish speech. … “Euro Halts Drop to Rally Higher on Upbeat German IFO Data”
US Dollar Weak After Trump’s Comments, Powell’s Speech
The US dollar was one of the weakest currencies during the past trading week, though the Japanese yen was actually the weakest due to the relatively optimistic market sentiment. One of the major reasons for the dollar’s weakness were the comments from US President Donald Trump who criticized Federal Reserve Chairman Jerome Powell for raising interest rates. Talking about Powell, he was speaking at the Jackson Hole symposium on Friday, saying that … “US Dollar Weak After Trump’s Comments, Powell’s Speech”
Chinese Yuan Seeks to Make Big Gains on Stability Efforts
The Chinese yuan is looking to make gains at the end of the trading week as the central bank announced that it would be reintroducing a currency fixing method amid the yuanâs dramatic descent. The announcement comes after President Donald Trump accused China of being a currency manipulator. On Friday, Reuters reported that the Peopleâs Bank of China (PBOC) will reintroduce a measure to ensure the currency market is stable during the yuanâs volatile trading … “Chinese Yuan Seeks to Make Big Gains on Stability Efforts”
Euro Rallies Higher on Positive German GDP Data and Weak US Data
The euro today rallied higher against the US dollar following the release of mixed data from Germany led by the positive German Q2 GDP data. The EUR/USD currency pair posted more gains following the release of weak data from the US docket in the early American session. The EUR/USD currency pair today rallied from an … “Euro Rallies Higher on Positive German GDP Data and Weak US Data”
Bitcoin rejects the rejections with a lot of resilience
The BTC/USD fell sharply amid another postponement of an ETF decision. The technical picture is complicated, but this cryptocurrency still enjoys higher lows, a positive sign. The price of Bitcoin edged up in a relatively calm mid-summer week of trading. The stability, and more importantly the resilience, are both surprising given the circumstances. For a change, the … “Bitcoin rejects the rejections with a lot of resilience”
Canadian Dollar likes optimism on NAFTA – is it enough?
The Canadian Dollar continued receiving bids on NAFTA hopes. Canada’s quarterly GDP is the central event of the last week of August. The technical picture is mixed after a few weeks of range trading. This was the week: Almost a deal all over again The talks to renew the North American Free Trade Agreement remained … “Canadian Dollar likes optimism on NAFTA – is it enough?”