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There is one Canadian election outcome that could hurt the loonie ... and here it comesCAD sliding further now after projections show a minority Carney government is likely*
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Reuters report now - White House official says Trump expected to soften auto tariffsWall Street Journal says Trump to soften blow on automotive tariffs*
ICYMI - Tesla expects first Semi trucks to enter production by end-2025China's FM says concession and retreat will only make the bully more aggressiveReports that US (R) Senator Paul expects to have votes to block Trump's tariffs (but ...)Morgan Stanley says the falling US dollar could fuel US stock outperformanceNikkei: "Japan life insurers set to cut JGB holdings by $9bn"Dalio on Trump tariff turmoil - warns it's 'too late'Extend-and-Pretend. US tax bill goal date was Memorial Day, now Bessent hopes for July 4Spain to release 3 days worth of Strategic Oil ReservesForexlive Americas FX news wrap 28 Apr. GBPUSD moves to highest level since 2022*
ICYMI - "UK and EU to defy Trump with ‘free and open trade’ declaration"*
Friday's non-farm payroll report for April - previewNew Zealand fin min says Treasury sees lower growth in 2025 & 2026 - due to Trump tariffsUS stocks close mixed/little changedGBPUSD moves to a new high going back to February 2022Trade ideas thread - Tuesday, 29 April, insightful charts, technical analysis, ideasAs I post projections show that Mark Carney’s Liberal Party has won the election, but its tight. As I post the question it appears if Carney does win he'll govern as leader of a minority government. is if Carney will govern in a majority or minority government.
The Canadian dollar rose on the early projections of a Carney win. More broadly, EUR, AUD, NZD and GBP popped a little higher alongside.
As counting progressed it became more likely that Carney would govern in a minority. if he wins. CAD slid away after this, other FX along for the rise too with a lower EUR, AUD, NZD, GBP alongside.
News and data flow otherwise has been light. Of most note, news broke that Trump is expected to soften the impact of his automotive tariffs, preventing duties on foreign-made cars from stacking on top of other tariffs he has imposed and easing some levies on foreign parts used to manufacture cars in the U.S. He’s expected to confirm this on Tuesday (US time) on a trip top Detroit.
US equity index futures reopened for evening trade (US time) with a gap lower but on this latest Trump reversal have gained.
As a bonus news item for UK readers (good morning!) … The UK and the EU are set to sign a formal declaration committing to “free and open trade” in defiance of Donald Trump’s tariff agenda. A leaked draft seen by POLITICO promises a “new strategic partnership” between London and Brussels. Bye-bye Brexit?
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( ForexLive Asia-Pacific FX news wrap: Canada election result tight, CAD yo-yo )
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