Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Trump, Xi Focus on Trade and AI at White House Summit 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
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The Canadian dollar plunged to a five-year low, and the Mexican peso remained under pressure on Thursday after former U.S. President Donald Trump renewed tariff threats against Canada and Mexico. Trump reaffirmed plans to impose 25% tariffs on imports from both countries, citing concerns over illegal immigration and fentanyl trafficking.
He set a February 1 deadline to finalize the tariffs and is considering whether to exempt Canadian and Mexican oil imports before they take effect on Saturday. The USD/CAD pair edged higher late Thursday, reflecting the loonie's decline, while the Mexican peso’s USD/MXN pair dipped slightly but stayed volatile after a 1% rise in the prior session.
Additionally, a 10% tariff on Chinese imports has been proposed to curb trade imbalances and pressure Beijing to crack down on drug trafficking. The escalating trade tensions have triggered market volatility and heightened risk aversion.
In response, Canadian politician Chrystia Freeland, a leading contender to succeed Prime Minister Justin Trudeau, announced plans for a retaliation list targeting U.S. exports. The proposed countermeasures, worth approximately C$200 billion, focus on products from politically significant states like Florida, Wisconsin, and Michigan.
With uncertainty mounting, markets brace for further instability as investors assess potential economic fallout from the tariffs.
