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6 May 2025

US President Donald Trump: Don't know if it's necessary to renegotiate USMCA

United States (US) President Donald Trump hit the wires hard on Tuesday during a joint press conference with Canadian Prime Minister Mark Carney. President Trump noted that it may not be necessary to renegotiate the USMCA, the NAFTA renegotiation that Donald Trump himself oversaw during his first term.

In typical Trump fashion, the breadth and scope of the president's comments were much wider than US-Canada relations. They included comments about the US's ongoing spat with Houthi rebels that have ramped up attacks on civilian shipping targets in recent months.

Donald Trump also touched on China, noting that the Asian manufacturing and trade giant hasn't been playing ball on trade discussions so far, which flies in the face of comments from Donald Trump in recent weeks about active trade discussions that had been allegedly occurring with policymakers from China that the Trump administration refused to identify.

Key highlights


Houthis don't want to fight. Good news Houthis announced they do not want to fight. We will stop bombing of Houthis effective immediately.

Big announcement before Monday trip departure.

Really positive announcement Thursday, Friday or Monday before we leave.

I don't know if it's necessary to renegotiate USMCA anymore.

We will possibly start to renegotiate USMCA.

We will be friends with Canada.

I want friendship with Canada.

Trump on Canada as 51st state: It takes two to tango.

Won't discuss 51st state unless someone wants to discuss.

United States has abundance of energy.

We want to protect our automobile business.

Trump wants to meet with China.

China's doing no business right now.

China's economy suffering from a lack of US trade.

China wants to negotiate and we will meet at the right time.

By not trading with China, we're losing nothing.

Announcement over next few days not necessarily on trade.

Chinese ships are turning back in the Pacific Ocean.

We're not chaotic, we're flexible.

We don't have to sign deals.

In some cases, we'll sign some trade deals.

May 6, 2025

US yields steady ahead of Fed, 10-year auction as US Dollar slips

The US 10-year Treasury yield trades subdued on Tuesday as market participants await the Federal Reserve’s last monetary policy meeting on May 7. Furthermore, investors are also eyeing the demand for the 10-year T-note auction at 13:00 ET.
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May 6, 2025

EUR/USD Price Analysis: Euro steadies near 1.1300 with bullish bias intact

The EUR/USD pair moved slightly higher on Tuesday, trading near the 1.1300 zone after the European session as buyers remained in control despite a lack of strong momentum.
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