 Canadian Dollar spiked lower after US President Donald Trump confirmed his plan to impose 25% tariffs on imports from Canada and Mexico, set to take effect this Saturday on February 1. Trump justified the decision by citing concerns over migration, drug trafficking, and economic imbalances. However, uncertainty remains regarding whether oil imports will be affected. While the move was not entirely unexpected, the confirmation added pressure to the Loonie as markets assessed the impact on trade, inflation and growth. In contrast, Trump’s stance on China remains less definitive. While he also mentioned potential tariffs on China due to ongoing fentanyl concerns, he stopped short of detailing any immediate action. This leaves the possibility of further trade disruptions on the horizon, though no concrete measures have been announced yet. Despite the tariff headlines, Loonie remains middle-of-the-pack in weekly performance. Aussie and Kiwi continue to struggle, along with Euro. Yen leads the market, additionally supported by stronger Tokyo inflation data, followed by the Dollar. British Pound has climbed higher, benefiting from Euro weakness, while Swiss Franc is trading mix.... |
