Forexlive Americas FX news wrap: Another round of tariff fears fade ...Middle East

US March ISM manufacturing 49.0 vs 49.5 expectedJOLTs February job openings 7.568M vs 7.616M estimateUS February construction spending +0.7% vs +0.3% expectedTrump is evaluating three tariff proposals - reportThe White House is watching how countries respond to tariff threats - reportWhite House Press Sec.: Trump to take historic action to improve American competitivenessAtlanta Fed GDPNow -3.7% versus -2.8% previously (March 28)Canada's Carney highlights plan to fight tariffs in call with MexicoCanada's Carney: We will retaliate against US tariffsIran advisor to supreme leader: Will develop a nuclear bomb if attackedService sector deteriorates in the Dallas Fed surveyOPEC+ not expected to change its plan to gradually raise oil output from April - reportUS S&P Global March manufacturing PMI 50.2 vs 49.8 priorMarch Canada S&P Global PMI 46.3 vs 47.8 prior

WTI crude oil down 28-cents to $71.18US 10-year yields down 7.4 bps to 4.17%S&P 500 up 0.4%Gold down $6 to 3117CAD leads, EUR lags

The mood was challenged early in the day on a Washington Post report saying the White House was considering a broad, 20% tariff. That had stock futures lower, Treasury yields down 10 bps across the curve and USD/JPY challenging 149.00. Economic data wasn't much help as the ISM manufacturing numbers slid and prices paid were higher. JOLTS also edged lower.

Strong gains were posted by the Canadian dollar and Mexican peso in a sign of optimism about tariffs. USD/CAD fell 80 pips on the day to 1.4301 and fell more than a full cent from early US trade.

Wednesday is a big day for markets so we will be strapped in and looking for hints ahead of the 4 pm ET announcement.

This article was written by Adam Button at www.forexlive.com.

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