TRUMP TARIFFS TRIGGER MARKET TURMOIL AND IMPACT ON AUD/USD, CRYPTO, AND GLOBAL MARKETS

TRUMP TARIFFS TRIGGER MARKET TURMOIL AND IMPACT ON AUD/USD, CRYPTO, AND GLOBAL MARKETS
AUD/USD dipped below 0.61 amid Trump’s tariff trade war with China, Canada, and Mexico.
The tariff escalation caused a rout in "risk" assets, including cryptocurrencies like Ethereum.
The USD index surged around 1% due to the tariff tensions.
Trump suggested that tariffs on Canada could be removed if "enough steps" are taken to address the health crisis.
Goldman Sachs believes tariffs on Canada and Mexico will likely be short-lived.
Trump's tariffs caused a sharp drop in stocks and boosted the USD on early Monday.
New Zealand’s S&P/NZX 50 index fell nearly 2%.
The tariff conflict supports the case for potential rate cuts by the Reserve Bank of Australia.
Australia’s December 2024 retail sales showed a smaller-than-expected decline of -0.1% m/m.