US President Donald Trump announced a 30-day pause on tariff threats against Mexico and Canada, leading to strong market reactions. US equity futures surged, with the S&P Futures rising 0.4%. The dollar lost ground against the Mexican peso and Canadian dollar.
The euro initially dropped to $1.0125 but rebounded to $1.0320 within a day. In Hong Kong, the Hang Seng index jumped 2.5%, with EV maker Li Auto gaining 8% and chipmaker SMIC rising over 7%. Meanwhile, European futures inched up 0.2%, while Australian and Japanese stocks also saw gains.
Bitcoin recovered to $102,000 after dropping close to $91,000 earlier. Gold stayed near record highs at $2,820 per ounce, driven by global trade concerns.
Experts believe Trump’s tariff moves leave room for negotiation, keeping investors cautious but not overly worried.
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