This is what you need to know to operate today Friday, July 11:
The US dollar (USD) exceeds its main rivals while safe refuge flows dominate the action in financial markets early Friday, with the USD index keeping in positive territory above 97.50 in the European session. In the second half of the day, Statistics Canada will publish the June Employment Report.
US dollar price this week
The lower table shows the percentage of the US dollar change (USD) compared to the main currencies this week. American dollar was the strongest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.83% | 0.84% | 1.85% | 0.72% | -0.39% | 0.63% | 0.45% | |
| EUR | -0.83% | 0.02% | 0.75% | -0.14% | -1.15% | -0.21% | -0.40% | |
| GBP | -0.84% | -0.02% | 0.74% | -0.14% | -1.16% | -0.22% | -0.54% | |
| JPY | -1.85% | -0.75% | -0.74% | -0.89% | -1.99% | -0.98% | -1.32% | |
| CAD | -0.72% | 0.14% | 0.14% | 0.89% | -1.08% | -0.08% | -0.40% | |
| Aud | 0.39% | 1.15% | 1.16% | 1.99% | 1.08% | 1.06% | 0.63% | |
| NZD | -0.63% | 0.21% | 0.22% | 0.98% | 0.08% | -1.06% | -0.32% | |
| CHF | -0.45% | 0.40% | 0.54% | 1.32% | 0.40% | -0.63% | 0.32% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
The president of the USA, Donald Trump, announced on Thursday that they will impose a tariff rate of 35% on the imported goods of Canada, as of August 1. Trump added that the European Union will receive a letter notifying them about the new tariff rates “today or tomorrow.” Finally, he said he plans to impose general levies of 15% or 20% to most commercial partners. After Thursday’s mixed action on Wall Street, the futures of the US stock market rates lose about 0.4% in the European session.
After reaching a maximum of two weeks above 1,3730 early Friday, USD/CAD He corrected down and was marginally quoting up to the day slightly below 1,3700. The unemployment rate in Canada is expected to rise to 7.1% in June from 7% in May.
EUR/USD It is maintained under moderate bearish pressure and listed below 1,1700 on Friday morning. The pair is still on the way to break a two -week winning streak.
The data published by the United Kingdom National Statistics Office (ONS) showed early Friday that the Gross Domestic Product contracted 0.1% in monthly terms in May. This reading followed the contraction of 0.3% registered in April and was worse than the expectation of the market of an expansion of 0.1%. GBP/USD It extends down after these data and quotes in negative territory below 1,3550.
After closing red on Wednesday and Thursday, USD/JPY It recovers its traction and goes around 147.00 in the European session.
Gold He registered small profits on Thursday and continued up early on Friday, supported by the bad risk of risk. The Xau/USD was last going around 0.5% in the day to $ 3,340.
Tariffs – Frequently Questions
Although tariffs and taxes generate government income to finance public goods and services, they have several distinctions. Tariffs are paid in advance in the entrance port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while tariffs are paid by importers.
There are two schools of thought among economists regarding the use of tariffs. While some argue that tariffs are necessary to protect national industries and address commercial imbalances, others see them as a harmful tool that could potentially increase long -term prices and bring to a harmful commercial war by promoting reciprocal tariffs.
During the election campaign for the presidential elections of November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy. In 2024, Mexico, China and Canada represented 42% of the total US imports in this period, Mexico stood out as the main exporter with 466.6 billion dollars, according to the US Census Office, therefore, Trump wants to focus on these three nations by imposing tariffs. It also plans to use the income generated through tariffs to reduce personal income taxes.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
