
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
On Monday, the Japanese yen gained a bit, while the Canadian dollar went down at the beginning of Asia trade after Donald Trump left the G7 gathering ahead of time just to demonstrate his complete dissatisfaction after a verbal clash with Canadian Prime Minister Justin Trudeau.
The Japanese yen is often utilized as a financing asset for more risky investments and it’s prone to ascend when investors' appetite for risk dives. It’s worth noting that by the end of Asia trade, the Japanese yen slumped once again.
The G-7 summit, which is currently taking place Canada, disclosed rather a deep split in trade and duties between Trump and other Western leaders. It’s because the US president neglected a joint communiqué and dared to have Canadian Prime Minister Trudeau accused.
On Saturday, when US leader left the G7 summit on his way to Singapore just to meet with North Korean leader, American President attacked Canadian Prime Minister Justin Trudeau for his milk duties and for criticizing American trade measures.
Apparently, Trump's indignation is built around the fact his country is currently at a disadvantage in global trade. He’s assured that America’s losing out on duties imposed by other nations. However, for many American trade partners, Trump’s criticism sounds quite unfounded, considering that America sets its own duties for everything from peanuts to trucks.
Donald Trump definitely infuriated Mexico, Canada and the European Union by simply setting duties for the import of aluminum and steel. It feels like the final push of the G7 will back financial markets in the face of worries of a global trade conflict.
As a matter of fact, the Canadian dollar headed south abruptly amid soaring concerns that President Trump might break up with the North American Free Trade Agreement soon.
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
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