TRENDING:

XAU/USD

EUR/USD

Trump wants a NAFTA rewrite in two weeks - CNBC

Joshua Gibson FXStreet

CNBC is reporting on reports from the White House that President Trump wants an outline of a NAFTA revamp ready to go in time for the Summit of the Americas in Peru on April 13th, as originally reported by Bloomberg.

Key quotes (source: CNBC)

"President Donald Trump is pushing to announce a tentative new North American Free Trade Agreement within two weeks, citing three people familiar with the talks."

"The White House wants leaders from Canada and Mexico, the other two members of the trade deal, to announce the framework of an agreement at the Summit of the Americas in Peru, which starts April 13."

"The Trump administration would like to see changes, particularly in the automotive industry, but two weeks "is probably too optimistic," a White House official who declined to be named told CNBC."

"Representatives from the three countries have negotiated the workings of a revised agreement for months."

"He [Trump] has threatened to pull the U.S. from the agreement if the three nations cannot improve it."

"During a string of tweets about immigration policy Monday morning, Trump took another swipe at the trade deal, saying Mexico "is making a fortune" from it."

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 bounces off lows, back above 1.3200

After bottoming out near 1.3160, GBP/USD manages to regain a bit of shine and reclaim the 1.3200 mark and beyond at the end of the week. Stronger-than-expected UK Retail Sales data seem to be helping the British Pound limit its losses, while the chaotic UK political environment keeps the bulls at bay for now.

EUR/USD looks consolidative around 1.1460

EUR/USD stages a modest rebound after slipping to a three-month low below 1.1420 at the end of the week. That said, the pair now looks to consolidate humble gains just above 1.1460 despite growing uncertainty surrounding the next round of US-Iran negotiations, which keeps the US Dollar’s downside contained.

Gold slips back to six-day lows, targets $4,100

Gold retreats for the third consecutive day on Friday, eroding gains seen in the first half of the week and approaching the key $4,100 mark per troy ounce. Indeed, the precious metal continues to face headwinds from the Fed's hawkish stance and renewed uncertainty surrounding the next round of US-Iran negotiations.

Solana extends correction despite ETF inflows, RWA adoption

Solana (SOL) price edges below $70 extending its losses for the fourth straight day this week. The institutional demand for Solana is building, with steady inflows so far this week and Morgan Stanley’s amended S-1 filing for a Solana-focused Exchange-Traded Fund.

The Iran war didn't break the US economy, but what happens next?

Nearly four months after the start of the Iran war, the US economy remains remarkably resilient. While the conflict initially triggered a severe disruption to global energy markets and a sharp rise in Oil prices, recent diplomatic progress between Washington and Tehran has eased concerns about a prolonged supply shock.

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.

Trump wants a NAFTA rewrite in two weeks - CNBC

Broker Reviews

Editor's Picks