TRENDING:

XAU/USD

EUR/USD

US President Trump's letter to incoming Mexico president Obrador

Joshua Gibson FXStreet

According to statements made by Mexico's new foreign minister, incoming Mexican President Lopez Obrador received a letter from US President Donald Trump, which outlined a press for quick NAFTA renegotiations.

Key highlights

In the letter, Trump said that countries need to increase cooperation.

Trump says that he agrees with four priorities that were outlined by Lopez Obrador in a previous letter.

According to Trump, NAFTA renegotiations would bring better-paying jobs for everybody, but only if the talks are done quickly.

Trump warns that if talks are not concluded quickly, he would have no choice but to choose a "very different" path.

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.

AUD/USD holds steady near 0.7200 amid escalating US-Iran tensions

AUD/USD consolidates just below its highest level since mid-May, touched on Friday, and hovers around 0.7200 at the start of a new week amid mixed cues. Hawkish RBA expectations continue to act as a tailwind for the Aussie. Meanwhile, the upbeat US NFP report lifted Fed rate hike bets, which, along with escalating US-Iran tensions, underpins the safe-haven US Dollar and caps the currency pair.

USD/JPY hovers around 156.00 as more hawkish BoJ bets cap gains

USD/JPY holds steady above 156.00 on Monday as the US Dollar draws support from escalating US-Iran tensions and rising Fed rate-hike bets, bolstered by Friday's upbeat NFP report. Moreover, concerns over Japan’s fiscal outlook keep the Japanese Yen on the back foot and support the currency pair, though more hawkish BoJ expectations and a suspected intervention cap the upside.

Gold falls below $4,400 as strong US jobs data raise the prospects for Fed rate hike

Gold price tumbles to near $4,395 during the Asian session on Monday. The precious metal extends the decline as robust US employment data boost US Federal Reserve (Fed) rate hike bets. The US Nonfarm Payrolls (NFP) climbed by 162K in August, the US Bureau of Labor Statistics (BLS) revealed on Friday.

Bitcoin consolidates near recent highs, Ethereum and XRP defend key bullish supports

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) maintain a constructive outlook on Monday after gaining more than 3.4%, 4% and 4.8%, respectively, last week. BTC holds steady near $80,000 while ETH and XRP show resilience and defend key support zones. The price action of these top three cryptocurrencies suggests consolidation or a mild pullback before an upside move.

CFTC report: Oil rebound offsets broader positioning retreat

The week in one sentence: Speculative positioning became more defensive in the week ending September 1. Yen short positioning recorded the largest deterioration, while Gold length also retreated. Oil buying returned alongside stronger prices, and Canadian Dollar and Euro positioning improved, although Euro flows diverged from weaker spot prices.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.

US President Trump's letter to incoming Mexico president Obrador

Broker Reviews

EUR/USD Price Forecast: Holds key 100-day SMA at start of the US CPI week

Silver Price Forecast: XAG/USD holds losses near $66.00 due to Fed rate hike bets

AUD/USD Price Forecast: Consolidates around 0.7200; bullish potential seems intact

United States Dollar Index strengthens above 99.00 as robust US jobs data boosts Fed rate hike bets

New Zealand Dollar edges lower as Fed rate hike bets and Iran tensions underpin USD

Canadian Dollar moves little despite weaker US Dollar, higher oil prices

Editor's Picks