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الرئيسيةالأخبار الأقتصاديةWeekend: Bank of Canada Governor Macklem said Trump’s tariffs the “biggest headwind”
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Weekend: Bank of Canada Governor Macklem said Trump’s tariffs the “biggest headwind”

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Bank of Canada Governor Macklem spoke with the New York Times. The Times is gated, but in brief:Trump’s tariffs the “biggest headwind” for the countrythe “most important imperative” is for Canada to reach a new trade deal with the USimpact of the tariffs isn’t showing up yet in economic data, policymakers will be “carefully” tracking the extent to which they impact consumer pricesTrump slammed a 25% tariff on Canadian goods Canada has retaliatory tariffs on certain US products.
This article was written by Eamonn Sheridan at www.forexlive.com.

المادة السابقة
Reserve Bank of New Zealand Shadow Board recommends 25bp interest rate cut this week
المقالة القادمة
Weekend – Japan PM aims for a trade deal with US by mid-June
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Bank of Canada Governor Macklem spoke with the New York Times. The Times is gated, but in brief:Trump’s tariffs the “biggest headwind” for the countrythe “most important imperative” is for Canada to reach a new trade deal with the USimpact of the tariffs isn’t showing up yet in economic data, policymakers will be “carefully” tracking the extent to which they impact consumer pricesTrump slammed a 25% tariff on Canadian goods Canada has retaliatory tariffs on certain US products.
This article was written by Eamonn Sheridan at www.forexlive.com.

المادة السابقة
Reserve Bank of New Zealand Shadow Board recommends 25bp interest rate cut this week
المقالة القادمة
Weekend – Japan PM aims for a trade deal with US by mid-June
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Fx Forsa

RELATED ARTICLES

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Fed’s Kashkari: Trade policy creates uncertainty for any decision before September

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  • Not sure if the picture will be "clear enough by September"
  • Have to see what the data says, and also how trade negotiations progress
  • If US can strike trade deals in the coming months, that should "provide a lot of clarity"
  • Immigration policy is also causing businesses to rethink investment plans

In other words, he's just saying that Trump's policies are the biggest risk factor that the Fed is considering right now. That isn't much of a surprise as has been communicated by the central bank for a while now already.

This article was written by Justin Low at www.forexlive.com.
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ForexLive Asia-Pacific FX news wrap: Trump delays 50% EU tariff date from June...

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The USD lost ground during the session here against EUR, AUD (highest since December 2, 2024), GBP (highest since February of 2022), NZD and CAD. USD/JPY and USD/CHF are not a lot net changed. Yen and CHF crosses are thus higher.

There were a couple of impactful early items of news:

  • the readouts from both Iran and the US were positive on nuclear talks, and indeed Trump confirmed this in later remarks saying the US had very good talks with Iran. "We had some real progress".
  • European Commission President Ursula von der Leyen spoke in a call with Trump on Sunday. Trump agreed to delay tariffs on the EU until July 9, a reprieve from the threatened 50% levies set to go into effect on June 1

That second point was the more impactful, it weighed on the dollar and underpinned risk (see above FX comments) for the session. While US markets will be closed on Monday for the Memorial Day holiday US equity index futures traded on Sunday evening on the CME’s Globex, rising on this news.

Also rising today was the yuan. Offshore yuan, CNH, hit its strongest since early November of 2024. In its reference rate setting today the People’s Bank of China flipped its damping around to slow the yuan’s rise (or support the USD if you’d prefer that perspective!). A rising yuan is supportive for AUD (at the margin it decreases the cost of Australian products in China).

This article was written by Eamonn Sheridan at www.forexlive.com.
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FX option expiries for 26 May 10am New York cut

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With it being a UK and US holiday, it is akin to an extended weekend for markets in general. As such, there aren't any major expiries to take note of on the day. That said, the big news over the weekend comes from Trump's flipping and flopping over EU tariffs. On Friday, he said that he will be pressing the EU with 50% tariffs on 1 June. Then now, he's saying that he will leave it to 9 July with negotiations in the meantime. So, that is what's driving trading sentiment to start the week.

Given the lack of other items on the agenda today, it's all about headline risk before things pick up tomorrow ahead of month-end.

For more information on how to use this data, you may refer to this post here.

This article was written by Justin Low at www.forexlive.com.
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