The Canadian dollar and Mexican peso remain under pressure as U.S. President Donald Trump confirmed that 25% tariffs on imports from Canada and Mexico will take effect. The loonie stood at $1.4496, nearing a one-month low, while the peso dipped 0.2% to 20.7390 per dollar, its weakest since early February.
Trump justified the tariffs by citing fentanyl flows into the U.S., dismissing the possibility of a last-minute trade deal. The new tariffs, affecting over $900 billion in annual imports, could disrupt the North American economy, with corporate leaders and economists warning of inflationary effects. Analysts expect further trade restrictions on Europe and beyond, compounding global economic risks.
RBC’s Andrzej Skiba predicts the tariffs will limit the Federal Reserve’s ability to cut interest rates, increasing volatility in fixed-income assets. The U.S. dollar index remained at 106.49 after a recent drop, with concerns rising over weakening consumer spending and potential economic slowdowns.
Meanwhile, the euro held firm at $1.0482 following a sharp rebound, as traders watch for developments in Ukraine and the European Central Bank’s policy decision. The ECB is expected to implement another 25 basis point rate cut amid persistent inflation concerns.
Sterling hovered at $1.26995, while the yen strengthened to 148.75 per dollar. Trump also criticized Japan and China for currency devaluation, adding uncertainty to global markets. The Australian dollar slipped 0.19% to $0.6213, and the New Zealand dollar fell 0.12% to $0.5610.
As markets brace for further trade tensions, investors remain cautious about the broader economic implications of Trump's aggressive tariff policies.


India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Thailand Inflation Remains Negative for 10th Straight Month in January
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 



