France's Le Maire: Europe will respond to US tariffs if provoked

Joshua Gibson FXStreet

France's Finance Minister, Bruno Le Maire, is addressing media outlets today, speaking about Europe's stance towards trade tariffs being threatened by the US, as well as the ongoing political push for a more unified Europe.

Key highlights:

Europe will respond in kind if the US imposes a 20% tariff on European vehicles.

Trump bet on European weakness, chose poorly.

Time is beginning to run out on Brexit, and it is concerning.

Le Maire says there can't be a 'status quo' on the Eurozone.

The EU's budget project is not a "transfer budget".

Hopes that the US soon sees that tariffs are also bad for the US economy.

The EU needs an independent Euro-centric financing body.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

GBP/USD appears bid near 1.3200

GBP/USD gathers momentum and advances toward the 1.3200 neighbourhood on Thursday. Cable manages to shrug-off initial weakness and regain balance on the back of the fresh selling pressure hurting the Greenback.

EUR/USD remains below 1.1350 after US PCE inflation

EUR/USD now accelerates its daily recovery, hovering around the 1.1370 region on Thursday. The pair’s rebounds follows some mild loss of momentum of the US Dollar despite results from the PCE and the labour market.

Gold advances slightly past $4,000

Gold reverses part of its recent weakness on Thursday, managing to reclaim the area just above the $4,000 mark per troy ounce. The precious metal regains traction on the back of renewed selling interest in the Greenback, although expectations of rate hikes by the Fed are likely to keep buyers on the sidelines for now.

Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

The broader cryptocurrency market remains under intense selling pressure, with Bitcoin back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours.

Bitcoin nears make-or-break level ahead of US PCE data

Bitcoin recovers slightly, trading at $61,700 after reaching a new yearly low of $59,103 and a 21-month low the previous day. This bearish price action is supported by the ongoing institutional sell-off, which recorded an outflow of over $469 million on Wednesday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.