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However, after meeting with his National Security Council to discuss military options, Trump’s next public message focused instead on flagpole installations at the White House — a notable shift in tone.
As of writing, there are no confirmed U.S. strikes, and some of the initial risk aversion has faded. The U.S. dollar is broadly weaker, with the EUR, AUD, NZD, CAD, JPY, and CHF all modestly firmer. GBP is lagging, but up also. FX ranges remain tight, and U.S. equity index futures are little changed. Brent crude has eased slightly from recent highs.
Exports declined -1.7% y/y, led by weakness in cars, steel, and mineral fuels — a better result than expectations for a -3.7% drop.Imports fell -7.7%, driven by declines in crude oil and coal shipments.
In China, PBoC Governor Pan Gongsheng said shadow banking risks have "dropped significantly." He also noted the yuan has become the world’s third most-used currency for payments. Separately, China’s FX regulator (SAFE) reiterated its commitment to keeping the yuan “basically stable at reasonable and balanced levels.”
Brent up
This article was written by Eamonn Sheridan at www.forexlive.com.
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