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CAD

27 Feb 2025

Mexican Peso, Canadian Dollar, and Chinese Yuan Fall As Trump Renews Tariff Threats

The Mexican peso, Canadian dollar, and Chinese yuan are dropping after Donald Trump renewed tariff threats against the three countries, clarifying (and contradicting) comments made ahead of yesterday’s cabinet meeting. In a post on his social media platform, Truth Social, the president said “Drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels. A large percentage of these Drugs, much of them in the form of Fentanyl, are made in, and supplied by, China. More than 100,000 people died last year due to the distribution of these dangerous and highly addictive POISONS. Millions...

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27 Feb 2025

Tariff Confusion Leaves Currency Markets Rudderless

The US dollar is inching higher against most of its rivals—with the exception of the safe-haven Swiss franc—as investors monitor signs of an impending economic slowdown amid deepening uncertainty over the Trump administration’s tariff plans. Benchmark ten-year Treasury yields are holding just below the 4.3-percent threshold after fully unwinding their post-election gains, North American equity futures are setting up for an almost-unchanged open, and foreign exchange rates are displaying signs of broad-based risk aversion. The Canadian dollar and Mexican peso are almost unchanged after President Trump appeared to say that levies on the two countries would take effect on April...

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25 Feb 2025

New Tariff Threats Add to Unease

The US dollar is up only slightly against its peers this morning after Donald Trump said tariffs on Canada and Mexico are “going forward on time, on schedule”. Speaking with reporters after yesterday afternoon’s meeting with French president Emmanuel Macron, Trump claimed the United States had been “led, in some cases, by fools,” saying “I look at some of these [trade] agreements, I’d read them at night and I’d say, ’Who would ever sign a thing like this?’ So the tariffs will go forward, yes, and we’re going to make up a lot of territory… Our country will be extremely...

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24 Feb 2025

Euro Rises As Moderates Win German Election

The euro is trading with a supportive bias after a centre-right party emerged victorious in Germany’s federal election, avoiding a lurch into extremist territory and paving the way for business-friendly economic reforms. The Christian Democrats led by Friedrich Merz are believed to have won 28.5 percent of the vote against the far-right Alternative for Germany’s 20.8 percent, 16.4 percent for the centre-left Social Democrats, 11.6 percent for the Greens, and 8.8 percent for The Left. The government could find it difficult to enact broad-reaching defence and fiscal policy changes—given that parties on the extreme left and right have enough votes...

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23 Feb 2025

US data rattles markets

• US macro. US growth & inflation concerns rattled market nerves on Friday. Equities & bond yields declined. USD a little firmer. AUD & NZD slip back.• Policy trends. RBA still looks to be on a different path to many other central banks. This can be AUD supportive on a few of the major AUD-crosses.• Event Radar. In Australia the monthly CPI indicator is due (Weds). Offshore, several US Fed members speak & the PCE deflator is released (Fri night). Global Trends The state of play in the US economy rattled a few market nerves on Friday. Risk sentiment soured...

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