The Pound Sterling (GBP) surges to near 1.2320 against the US Dollar (USD) in Monday's North American Session. The GBP/USD pair strengthens as the US Dollar nosedive soon after reports from the Wall Street Journal (WSJ) showed that there won't be tariff hikes on the first day of President Donald Trump at the White House. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, plummets to near 108.30According to the WSJ, the presidential memo directs federal agencies to study trade policies and evaluate US trade relationships with China and America's...
West Texas Intermediate (WTI), the U.S. crude benchmark, was trading around $76.15 on Tuesday (21/1). WTI prices attracted some sellers as traders awaited a series of executive orders from U.S. President Donald Trump after his inauguration. Trump announced on Monday that he would immediately declare a national energy emergency, vowing to fill the strategic reserve and use the authority to quickly approve new oil, gas and power projects that typically take years to obtain permits. The Trump administration will push for more oil and gas production and consumption in the United States, which...
The dollar index rose to around 108.5 on Tuesday (21/1), recovering some of the previous session's losses after U.S. President Donald Trump said he was considering 25% tariffs on Canada and Mexico as early as Feb. 1, citing concerns about illegal immigration at the U.S. border. Trump also mentioned China but did not provide further details. The dollar has gained momentum since October, driven in part by concerns that Trump's "America First" policies and pro-growth stance could spur inflation, which in turn could discourage the Federal Reserve from cutting interest rates further. However,...