President Trump

The USD/CAD has maintained a steady upward movement, accumulating an appreciation of over 1.5% in the last six trading sessions in favor of the U.S. dollar.

EUR/USD rallied back to 1.0500 last week as Trump’s reciprocal tariff announcement didn’t evoke much fear. But he also warned that tariffs on autos are coming.

USD/CAD broke support as the U.S. Dollar broke down this week even after strong inflation prints out of the U.S., suggesting that Trump tariffs are losing their drive for USD-strength.

Trump’s market impact continues to broaden as peace talks in Ukraine drove a EUR/USD breakout, followed by a reversal on news of reciprocal tariffs coming soon.

Trump tariffs are zeroing in on Europe although there’s still a large amount of uncertainty. The pair responded to the threat with a strong sell-off at the open, that it’s now trying to claw back.

It was a busy week and it looks like it’ll be a busy weekend, as well, with 25% tariffs set to go in-effect from the United States on Canada. This could lead to a volatile open on Sunday in the pair.

Well, Trump's tariffs are not going away. In fact, they're on Canada's doorstep. And that was enough to send USD/CAD to a 5-year high late in the day on Thursday, which only adds to the excitement of month end flows and messy price action.

Since the beginning of 2025, bullish movements have driven gold to increase by more than 5% of its total value, once again approaching its historical high near the $2,780 per troy ounce level.

You don’t need a degree in economics to see Trump’s demands for lower rates flies in the face of a strong US economy. And with Trump likely to try and strong arm the Fed into lower rates, we’re back onto the topic of Fed independence.

The U.S. Dollar just finished its strongest quarter in more than nine years, but a continuation of that theme may not be a great thing for U.S. equities, or the EUR/USD pair.

It’s been a fast-evolving market since the Presidential election three weeks ago. But stocks remain higher, Bitcoin has put in a major move and gold is on its back foot.