Canadian trade tariffs weigh on Chinese and commodity markets

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These tariffs add to the ongoing concerns about the stability and growth prospects of the Chinese economy, exacerbating uncertainties for global investors. The ripple effects of these concerns are felt particularly in markets heavily reliant on Chinese demand, such as those linked to commodities.

Dollar decline slowed

The US dollar has started to stage a little recovery after reaching its lowest point in 13 months. This rebound is largely driven by escalating geopolitical tensions in the Middle East, which have spurred increased demand for safe-haven assets like the dollar.

However, despite this recent uptick, the dollar remains under pressure, with many analysts predicting further potential weakness due to underlying economic and monetary factors.

Gold, oil rise

Both gold and oil prices have experienced gains, reflecting investor anxiety over the situation in the Middle East. Gold, in particular, is benefiting from its status as a traditional safe-haven asset during periods of geopolitical instability. Oil prices are also rising, driven by fears that conflict in the Middle East could disrupt supply chains and lead to tighter market conditions.