Federal Reserve (Fed) Bank of Richmond President Thomas Barkin hit newswires on Thursday, warning that incoming economic uncertainty at the hands of the Trump administration's lopsided trade policy will force the Fed into a wait-and-see approach than most investors are hoping for.
The NZD/USD pair posted mild gains on Thursday, edging higher toward the 0.5740 area after the European session and entering the Asian session on a firmer note.
On Thursday, the Banco de México (Banxico) reduced its interest rate by 50 basis points, from 9.50% to 9%, and opened the door for additional adjustments to calibrate monetary policy and make similar adjustments.
Canadian Prime Minister Mark Carney cautioned markets that the Canadian government is both ready and willing to start retaliatory trade actions against US President Donald Trump.
The Greenback faced the resurgence of the selling pressure, receding from the area of three-week highs amid mixed developments in US yields, steady tariff fears and expectation ahead of the release of US PCE on Friday.
The Dow Jones Industrial Average (DJIA) headed lower for a second straight day on Thursday, declining another 100 points to fall one-quarter of one percent.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, trades marginally lower on Thursday near the 104.40 area after giving back early-session gains.
The Mexican Peso is feeling the pain of tariffs, depreciating for the second consecutive day against the US Dollar after US President Donald Trump signed an executive order to apply tariffs on auto imports from all countries.
The Pound Sterling rises during the North American session, against the Greenback even though the US President Donald Trump enacted automotive tariffs on all cars made outside of the United States (US).
Prices of Gold rose to an all-time peak around the $3,060 mark per troy ounce on Thursday, following the downward trend in the US Dollar, mixed US yields, and rising uncertainty surrounding the White House's trade policy.
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