Market activity suggests easing trade tensions; Nasdaq down 0.2%; Treasury yields rise; WTI crude trims losses.
GBP strengthens as USD weakens, targeting 1.28 with support at 1.2715 and 1.2675/80 amid growing momentum.
Ted Cruz hopes tariffs are temporary, emphasizing Texas trade with Mexico and Canada while supporting Trump’s intended outcomes.
The EUR strengthens as USD weakens, with bullish momentum targeting the 1.0650/1.0750 range and 200-day average.
The Canadian Dollar recovers, supported by a softer US Dollar and narrowing US/Canada 2Y spreads amid tariff concerns.
Mexico will delay tariffs announcement until Sunday, coinciding with Canada’s Liberal Party leadership decision, likely impacting elections.
Trump imposes tariffs on Canada, Mexico, China; manufacturers urged to build in US amid economic concerns.
Trudeau announces $30 billion tariffs, challenges under USMCA and WTO, citing inaccurate fentanyl claims and economic risks.
US Treasury Secretary Scott Bessent plans rate cuts, asserting Chinese manufacturers will absorb tariffs; USD Index fell.
Trump promises no tariffs for returning companies, addresses cartels. S&P 500 drops 1.9% amid tariff concerns.
