Trump trade

It’s been an eventful past week and we’re still not out of the woods. This webinar looked at a wide range of markets across stocks, gold and FX pairs.

Today, Bitcoin has recorded a drop of more than 10%, breaking below the key psychological level of $80,000 per BTC. The selling pressure, which began over the weekend, has been mainly driven by the rising perception of market risk.

A mixed response of Trump's tariffs saw gold reach a record high, EUR/USD and GBP/USD move their separate ways and Wall Street futures suffer their worst hour's trade since October 2022. It is now down to how world leaders respond as to how their domestic markets will perform from here.

USD/CAD has seen price action tighten over the past six weeks, even as the tariff topic has kept volatility flowing through several headlines.

The US Dollar is at support and deeply oversold, so the risks may be tilted to an upside reactionif the jobs report is at or above expectations, but that may be a high hurdle to clear given the headwinds from DOGE and tariff threats.

The USD/CAD has maintained a steady upward movement, accumulating an appreciation of over 1.5% in the last six trading sessions in favor of the U.S. dollar.

USD/CAD rallied this week as the Trump tariff topic has dominated headlines. The big question now is whether Trump will enact tariffs on Canada next week, which could carry with a negative reaction in U.S. equity markets.

WTI prices have posted a rebound of more than 1% in recent trading hours after facing consistent bearish pressure for the past three weeks.

Trump tariffs are zeroing in on Europe although there’s still a large amount of uncertainty. The pair responded to the threat with a strong sell-off at the open, that it’s now trying to claw back.

It’s been a fast-evolving market since the Presidential election three weeks ago. But stocks remain higher, Bitcoin has put in a major move and gold is on its back foot.

True to his campaign promise, Trump is playing hardball with tariffs. But will he deliver, or is this simply a classic Trump-bargaining chip? Regardless, AUD/USD is getting caught up in the headlines.