The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).
Canadian Justin Trudeau has announced that Canada would immediately impose 25% tariffs on C$30 billion worth of US imports if US tariffs go into effect. Trudeau added that tariffs on the remaining C$125 billion of products will “come into effect in 21 days”. Reuters report.
On Monday, US President Donald Trump confirmed that he would impose 25% tariffs on Canada and Mexico. Trump told reporters, “No room left for Mexico or for Canada.” He added, “The tariffs—you know, they’re all set. They go into effect tomorrow.”
Meanwhile, the US Dollar (USD) underperforms as traders have become increasingly confident that the Federal Reserve (Fed) could cut interest rates in the June meeting. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, declines to near the 11-week low of 106.15.
Fed dovish bets have escalated due to an expected slowdown in the United States (US) core Personal Consumption Expenditure Price Index (PCE) data in January, the first decline in the Personal Spending data for January in two years, and a sharp decline in the Consumer Confidence and weak ISM Manufacturing PMI data for February.USD/CAD corrects to near 1.4420 as US-Canada enters trade war
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).
Canadian Justin Trudeau has announced that Canada would immediately impose 25% tariffs on C$30 billion worth of US imports if US tariffs go into effect. Trudeau added that tariffs on the remaining C$125 billion of products will “come into effect in 21 days”. Reuters report.
On Monday, US President Donald Trump confirmed that he would impose 25% tariffs on Canada and Mexico. Trump told reporters, “No room left for Mexico or for Canada.” He added, “The tariffs—you know, they’re all set. They go into effect tomorrow.”
Meanwhile, the US Dollar (USD) underperforms as traders have become increasingly confident that the Federal Reserve (Fed) could cut interest rates in the June meeting. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, declines to near the 11-week low of 106.15.
Fed dovish bets have escalated due to an expected slowdown in the United States (US) core Personal Consumption Expenditure Price Index (PCE) data in January, the first decline in the Personal Spending data for January in two years, and a sharp decline in the Consumer Confidence and weak ISM Manufacturing PMI data for February.Publication date:
2025-03-04 12:59:03 (GMT)
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