Here’s what you need to know on Wednesday, March 12:
After an unstable American session, which was dominated by tariff headers on Tuesday, financial markets silence early Wednesday. The US economic calendar will include the consumer price indicator (CPI) for February. Later that day Bank of Canada (BOC) will announce decisions regarding monetary policy.
US President Donald Trump announced on Tuesday that he would impose an additional 25%tariff, in addition to previously announced 25%, on the import of steel and aluminum from Canada. In response, Prime Minister Ontario Doug Ford announced that it would bring a 25% surcharge to electricity, which they provide to over 1 million houses in the USA. Trump withdrew after this development, and the White House said that only the previously planned 25% tariff for steel and aluminum products from Canada and all other countries will enter into force without exceptions or dismissals.
The price of an American dollar this week
The table below shows a percentage change in the US dollar (USD) compared to the main currencies this week. The American dollar was the weakest in relation to the euro.
| USD | EUR | GBP | JPy | BOOR | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.51% | 0.03% | 0.31% | 0.72% | 0.44% | 0.35% | 0.32% | |
| EUR | 0.51% | 0.50% | 0.81% | 1.25% | 1.05% | 0.84% | 0.72% | |
| GBP | -0.03% | -0.50% | 0.27% | 0.71% | 0.54% | 0.27% | 0.28% | |
| JPy | -0.31% | -0.81% | -0.27% | 0.42% | 0.20% | -0.04% | 0.09% | |
| BOOR | -0.72% | -1.25% | -0.71% | -0.42% | -0.33% | -0.38% | -0.43% | |
| Aud | -0.44% | -1.05% | -0.54% | -0.20% | 0.33% | -0.20% | -0.27% | |
| NZD | -0.35% | -0.84% | -0.27% | 0.04% | 0.38% | 0.20% | 0.06% | |
| CHF | -0.32% | -0.72% | -0.28% | -0.09% | 0.43% | 0.27% | -0.06% |
The heat map shows percentage changes in the main currencies towards each other. The basic currency is collected from the left, and the quote currency is collected from the upper order. For example, if you choose an American dollar on the left column and move along the horizontal line to Japanese Jen, the percentage shift displayed in the field will represent USD (base)/JPy (quote).
At the beginning of Wednesday, the president of the European Commission Ursula von der Leyen said that the European Union (EU) introduced “quick and proportional remedies” in connection with the import of the US in response to steel tariffs. Similarly, the British trade minister Jonathan Reynolds said that it is disappointing that the US decided to continue the global tariffs for steel and aluminum, adding that they would keep all options on the table and do not hesitate to answer in the national interest. Meanwhile, Australian Prime Minister Anthony Albanese noticed that they would not impose mutual tariffs on the US, explaining that retaliation would raise the costs of Australian consumers and fuel inflation.
. American dollar (USD) On Tuesday, on Tuesday at an early American session in an early American session and the USD index fell to the weakest level from mid -October nearly 103.20. At the beginning of Wednesday, the USD index determines the reflection and trades in a positive territory above 103.50. Futures in the US stock index also adhere to compact benefits in the European morning after the main Wall Street indexes registered losses on Tuesday.
After fluctuating wild in the second half of the day, USD/CAD Closed virtually unchanged on Tuesday. On Wednesday, the couple becomes higher and trads above 1.4450. BOC is widely expected to lower the policy rate by 25 base points to 2.75% after a March meeting.
EUR/USD He collected a stubborn rush and on Tuesday climbed to the highest level within five months near 1.0950. The couple corrects lower on Wednesday and trads below 1,0900 in European morning.
GBP/USD It gained over 0.5% on Tuesday and increased above 1.2950. The pair exerted on USD recovery, the pair withdraws in the direction of 1,2900.
USD/JPY It maintains its ground and rises in the direction of 148.50 after the publication of modest profits on Tuesday. The Governor of the Bank of Japan Kazuo Ueda said on Wednesday that long -term long -term feet are in line with the view of the market at the prospect of low -term politics.
After the drop in Monday, Gold He bounced on Tuesday and gained almost 1% of that day. Xau/USD tries to keep its stubborn shoot, but on Wednesday it goes on Wednesday over USD 2,200.
