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The US Dollar (USD) is consolidating. The major currencies are trading mixed overall as markets steady and take stock of developments after yesterday’s steep US equity declines.

The main tariff news of the Asian session was a press release from the US Trade Representative highlighting progress on a trade deal with India as JD Vance visited.

“I am pleased to confirm that USTR and India’s Ministry of Commerce and
Industry have finalized the Terms of Reference to lay down a roadmap for
the negotiations on reciprocal trade,” said Ambassador Greer.

Is this what we’re doing?

After touting 90 days in 90 days we get a press release to announce that after extensive negotiations, officials are proud to announce they have successfully agreed… to begin discussing how they might eventually start negotiating a trade deal.

Hardly confidence inspiring.

This article was written by Adam Button at www.forexlive.com.

EUR/USD retraces to near 1.1470 during North American trading hours on Tuesday from an over three-year high of 1.1575, which it posted on Monday. The major currency pair has witnessed some profit-booking as the US Dollar (USD) strives to gain ground near its recent lows.

Slovak ECB Governing Council member Peter Kazimir said in a blog post today that Eurozone inflation is approaching the 2% target and expressed confidence that it will be reached “within the next few months.” Following the recent rate cut, Kazimir suggested that ECB’s deposit rate at 2.25% is no longer restrictive and could now be […]

The post ECB’s Kazimir sees rate near neutral, emphasize flexibility and agility appeared first on Action Forex.

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is bouncing off a three-year low ahead of the US trading session.

• General activity (region): -42.7 vs. -32.5 prior
• General activity (firm level): -26.7 vs. -17.5 prior
• New orders: -6.9 vs. -19.5 prior
• Sales/revenues: -7.8 vs. -4.7 prior
• Full-time employment: -7.2 vs. -7.5 prior
• Part-time employment: -7.9 vs. 3.5 prior
• Prices paid: 46.5 vs. 36.0 prior
• Prices received: -0.1 vs. 8.4 prior

Future indicators (six months):

• General activity : -31.8 vs. -24.0 prior (lowest since April 2020)
• General activity (firm level): -23.0 vs. -19.8 prior

This article was written by Adam Button at www.forexlive.com.

Canada Raw Material Price Index registered at -1%, below expectations (0%) in March

• Prior was +0.4% (revised to +0.6%)
• PPI yy 4.7% vs 4.9% prior
• Raw materials price index -1.0% m/m vs +0.3% prior
• Raw materials price index +3.9% y/y vs +6.6% prior

The slowdown in price pressures is notable via raw materials and that will continue in April via the plunge in oil and natural gas prices.

This article was written by Adam Button at www.forexlive.com.

Canada Industrial Product Price (MoM) registered at 0.5% above expectations (0.3%) in March