🌍 Markets are facing significant volatility today after new tariffs were announced: 25% on imports from Canada and Mexico and 10% on Chinese goods. Retaliation from these countries has heightened fears of a global trade war.
💵 Forex Market:
USD: The US dollar surged as investors flock to safe-haven assets amidst uncertainty.
AUD: The Australian dollar plummeted to a five-year low due to concerns over global trade disruptions.
💰 Crypto Market:
Bitcoin (BTC): Dropped around 4%, trading near $95,000 as risk aversion grips investors.
Altcoins: Major cryptocurrencies like Ethereum (ETH), XRP, and Dogecoin (DOGE) are also down, with some experiencing losses over 25%.
📊 These movements highlight the critical impact of geopolitical events on both forex and crypto markets.
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Market Update: Forex and Crypto Hit by Global Trade Tensions was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.