Canadian dollar is lowest since 2003. Chinese Yuan also crashed. Panama severed China deal, and seeks US investment instead.
Posted: Feb 03, 2025
- The Yuan has hit a record low due to Trump tariffs
- Mexican peso and Canadian dollar have tumbled as a result
- The trade tensions continue to impact global currencies
- Investors should monitor the situation closely, especially for companies heavily affected like $AAPL and $NVDA
- Dollar surged due to Trump's tariffs on Mexico, Canada, and China
- Euro plunged to lowest since 2022
- Bitcoin slumped below $100,000
- Canada, Mexico, and China retaliated with vows of countermeasures
- Federal Reserve's rate cut expectations reduced by investors
- US hit Canada and Mexico with 25% duties, China with 10%
- Global trade expected to contract sharply
- Dollar index rose, hitting multi-year highs against Canadian dollar, Mexican peso, and Swiss franc
- Euro, Swiss franc, Sterling, and yen also impacted by tariffs and trade war fears
- U.S. Personal Consumption Expenditures (PCE) Price Index surged, indicating no rush for interest rate cuts
- Bitcoin and Ether prices fell amidst the tariff news
- Tariff moves and counter moves could lead to a trade war with negative impact on growth and prices
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