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CROSS ASSET: Dollar Spikes As Trump Reportedly To Announce CA / MX Tariffs

CROSS ASSET
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USD index spikes 0.5% to a weekly high with USDCAD spiking 1.3% to a high of 1.4595, with S&P futs down a quick 0.6% on headlines that US Pres Trump tells reporters in the Oval Office that he plans to impose 25% tariffs on Canada and Mexico. 

  • US rates markets relatively less affected.
  • The Bloomberg article is brief, and the headline "Trump Again Says He’ll Put 25% Tariffs on Canada, Mexico" seems to play it down, but we await an exact quote. BBG: "President Trump says he will be announcing the tariffs for a number of reasons, including fentanyl. Trump speaks to reporters at the White House".
  • We await further details.
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USD index spikes 0.5% to a weekly high with USDCAD spiking 1.3% to a high of 1.4595, with S&P futs down a quick 0.6% on headlines that US Pres Trump tells reporters in the Oval Office that he plans to impose 25% tariffs on Canada and Mexico. 

  • US rates markets relatively less affected.
  • The Bloomberg article is brief, and the headline "Trump Again Says He’ll Put 25% Tariffs on Canada, Mexico" seems to play it down, but we await an exact quote. BBG: "President Trump says he will be announcing the tariffs for a number of reasons, including fentanyl. Trump speaks to reporters at the White House".
  • We await further details.