In this context, gold reached a new historical record and oil rebounded after weeks of falls, which reflects the caution of investors in the face of the evolution of international trade.
He dollar strengthened in the world this Monday after the president of USA, Donald Trump promised 25% tariffs on all imports of steel and aluminum.
Canada is one of the main steel and aluminum exporters to the United States, together with Brazil, Mexico, South Korea and Vietnam, according to data from the Government and the American Iron and Steel Institute. In this context, The Canadian dollar weakened 0.11% in front of the green ticket, at 1,4307 units per US dollar after reaching 1,4379 units.
Meanwhile The “Green” ticket showed 0.4%, up to 151.97 Japanese yen since in the Asian country there are also fears that tariffs harm their export products. Marc Chandler, strategist head of Bannockburn Global Forex in New York, explained that “there is a bit of recovery and also the idea that Japan was going to get rid of the worst and could now be affected by steel and aluminum tariffs “
The dollar index advanced in front of Trump’s tariff policy
He dollar indexwhich compares the currency against a basket of representative currencies globally, rose 0.2% at 108.31. The euro devalued 0.2% Au $ S1,0306 and the pound sterling gave up 0.4%, Au $ S1,2364. It is worth remembering that the United States is the second market of steel exports of the European Union.
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Trump said Sunday that he will introduce new 25% tariffs on all steel and aluminum imports In the United States, in addition to existing tariffs on metals. It occurred after Friday said it planned to announce reciprocal tariffs to many countries for Monday or Tuesday.
After the statement, the American currency went up during the night before cutting their profits in the first New York operations. This week, The attention of the US economy will focus on inflation data of January consumption prices, which will be published on Wednesday.
Source: Ambito
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