Tariffs on Canada & Mexico: Trump confirmed a 25% tax on goods from Canada and Mexico starting March 4.
New Tariff on China: He announced an extra 10% tax on Chinese goods.
Stacking Effect: This new 10% tax might be added on top of the 10% tariff already in place since February.
Market Impact: The news caused big reactions in global markets.
PBOC SETS USD/CNY REFERENCE RATE AT 7.2116 VS. 7.2074 PREVIOUS FIXING On Wednesday, the People's Bank of China (PBOC) set the USD/CNY central parity rate at 7.2116, slightly higher than the previous day's fixing of 7.2074. This daily reference rate
NZD/USD STRENGTHENS ABOVE 0.5950 AMID HOPES FOR US-CHINA TRADE DEAL The New Zealand Dollar (NZD) has gained momentum against the US Dollar (USD), with the NZD/USD pair trading around 0.5980 during the Asian trading hours on Wednesday. U.S. Treasury Secretary Scott Bessent described the ongoing
USD/CAD TRADES HIGHER NEAR 1.3850 DUE TO POTENTIAL DE-ESCALATION OF ONGOING TARIFF DISPUTE The USD/CAD currency pair has rebounded from two consecutive sessions of losses, trading near 1.3830 during Asian hours on Wednesday. This upward movement is attributed to renewed support for the U.S. dollar
USD/CAD PRICE FORECAST: HANGS NEAR MULTI-MONTH LOW; SEEMS VULNERABLE AROUND 1.3800 The USD/CAD currency pair has recently been trading near the 1.3800 mark, reflecting a multi-month low. The pair faces challenges in capitalizing on a brief bounce from the 1.3780 region, its lowest point in