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Oil: Tariffs on Canadian energy imports – ING
US tariffs on imports from Canada, Mexico and China are set to come into effect on 4 February and failing to come to a deal would mean tariffs of 25% on Canadian and Mexican goods and 10% on imports from China. For Canadian energy, the Trump administration decided to impose a tariff of only 10%.Fxstreet
Feb 3, 2025
EUR slide to mid-1.01 range reverses – Scotiabank
The EUR slumped to 1.0150 in early Asian trade but has since stabilized in the low/mid-1.02 range. President Trump made it clear that tariffs are coming for the EU as well in the not-too-distant future, Scotiabank's Chief FX Strategist Shaun Osborne notes.Fxstreet
Feb 3, 2025
USD/CAD: Markets ponder next steps in trade war – Scotiabank
The Canadian Dollar (CAD) has weakened in response to President Trump applying 25% tariffs on Canadian exports to the US. A 10% tariff will apply to Canadian energy exports. In response, Canada has announced limited counter-tariff retaliation of 25% covering USD107bn of US exports to Canada.
Fxstreet
Feb 3, 2025
NZD/USD: Risks for NZD are on the downside – UOB Group
New Zealand Dollar (NZD) could drop further and test 0.5510 before stabilization can be expected. In the longer run, risks for NZD are on the downside; it must break clearly below 0.5510 before a move to 0.5450 is likely, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Fxstreet
Feb 3, 2025
GBP/USD: Sharp drop in GBP has scope to extend – UOB Group
Sharp drop in GBP has scope to extend; the 1.2245 level is expected to provide support. In the longer run, GBP is likely to trade with a downward bias towards 1.2245, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Feb 3, 2025
EUR/USD: Risk is for further Euro weakness – UOB Group
Oversold decline has not stabilized; support levels are at 1.0175 and 1.0100. In the longer run, risk is for further Euro (EUR) weakness; it remains to be seen if it can break and remain below 1.0100, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Feb 3, 2025
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