The post Trump ends negotiations with Canada – ING appeared on BitcoinEthereumNews.com. The Loonie came under some pressure overnight after Trump announced he’s ending all trade negotiations as retaliation for an Ontario-sponsored anti-tariff ad, ING’s FX analyst Francesco Pesole notes. USD/CAD faces upside risks in the near term “Some might be surprised by the relatively small (0.2%) jump in USD/CAD on the news, but in reality there had been little to no progress on US-Canada trade talks so far, and the pair was already trading at over 2% short-term overvaluation (in our short-term fair value estimate) before Trump’s post.” “But if anything, we think that this development slightly increases the chance of another Bank of Canada rate cut next week. We expect a 25bp reduction, broadly in line with consensus and market pricing (18bp), as trade uncertainty and existing US tariffs are weighing heavily on Canadian businesses’ investment and hiring plans. The worrisome picture for activity and jobs should, in our view, prevail over hotter-than-expected September inflation numbers and convince the BoC to cut again.” “We also think it’ll be hard for the BoC to close the door on more easing already, which should keep the Canadian dollar weak in the crosses. USD/CAD faces upside risks in the near term, where explorations above 1.410 remain very much possible. But by year-end, we still think USD weakness can drag the pair back towards 1.38.” Source: https://www.fxstreet.com/news/cad-trump-ends-negotiations-with-canada-ing-202510240933The post Trump ends negotiations with Canada – ING appeared on BitcoinEthereumNews.com. The Loonie came under some pressure overnight after Trump announced he’s ending all trade negotiations as retaliation for an Ontario-sponsored anti-tariff ad, ING’s FX analyst Francesco Pesole notes. USD/CAD faces upside risks in the near term “Some might be surprised by the relatively small (0.2%) jump in USD/CAD on the news, but in reality there had been little to no progress on US-Canada trade talks so far, and the pair was already trading at over 2% short-term overvaluation (in our short-term fair value estimate) before Trump’s post.” “But if anything, we think that this development slightly increases the chance of another Bank of Canada rate cut next week. We expect a 25bp reduction, broadly in line with consensus and market pricing (18bp), as trade uncertainty and existing US tariffs are weighing heavily on Canadian businesses’ investment and hiring plans. The worrisome picture for activity and jobs should, in our view, prevail over hotter-than-expected September inflation numbers and convince the BoC to cut again.” “We also think it’ll be hard for the BoC to close the door on more easing already, which should keep the Canadian dollar weak in the crosses. USD/CAD faces upside risks in the near term, where explorations above 1.410 remain very much possible. But by year-end, we still think USD weakness can drag the pair back towards 1.38.” Source: https://www.fxstreet.com/news/cad-trump-ends-negotiations-with-canada-ing-202510240933

                                                                               Bitcoin’s market cycles may stretch longer as ISM manufacturing data remains weak, hinting at extended macro headwinds and slower business recovery.                     The Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) has historically aligned with major peaks in Bitcoin’s market cycles — a pattern that, if repeated, could imply a longer-than-usual cycle this time around.The correlation between the ISM PMI and Bitcoin’s (BTC) price was first popularized by Real Vision’s Raoul Pal and has since gained traction among macro-focused crypto analysts.“All 3 past Bitcoin cycle tops have broadly aligned with this monthly, oscillating index,” analyst Colin Talks Crypto noted, referencing the recurring overlap between Bitcoin’s market highs and the PMI’s cyclical peaks.Read more