Here's what my colleague, market strategist Mike "Willo" Wilson says happened while we were sleeping… The US dollar finished strong into the weekend after Friday's Oval Office clash between Donald Trump and Volodymyr Zelenskiy. The week ahead has risks from the European Central Bank's interest rate decision and the US monthly jobs report. Locally we have Australian 4Q economic growth data while across the Tasman, the RBNZ is hosting an inflation research conference. However, it's China's National People's Congress where Chinese Premier Li is expected to deliver a report on the nation's 2025 growth target that should impact Aussie and kiwi dollars most. European leaders sought to assemble what Britain called a "coalition of the willing" to secure Ukraine after any US-brokered ceasefire, as they gathered in London to coordinate defense spending hikes amid concerns of an American pullback. UK Prime Minister Keir Starmer, who hosted the emergency security summit on Sunday, said Britain and France and "one or two others" would work with Ukraine on a "plan to stop the fighting." Volodymyr Zelenskiy, Ukraine's president, from left, Keir Starmer, UK's prime minister, and Emmanuel Macron, France's president, embrace after holding a meeting during a summit at Lancaster House in London, UK, on Sunday. Photographer: Justin Tallis/AFP President Trump is on the verge of slapping new tariffs on Canada and Mexico while doubling a levy on China. The long-promised tariffs scheduled to take effect Tuesday would easily be among the most sweeping of the Trump era. They would put a 25% tariff on all imports from Canada and Mexico, except Canadian energy, which would face a 10% rate. He has also said he'll double a tariff on China to 20%. The cryptocurrency market roared into March full of optimism, recouping some of the losses from the asset class's worst month since 2022, after Trump once again talked up his plan for a strategic crypto reserve. Still, many of the details of Trump's plan are unknown, including how much the government will actually buy and how the purchases would be funded. Israel's decision to cut off humanitarian aid to Gaza for the first time in more than a year signals a renewed zero-tolerance attitude toward Hamas after the group rejected a US-led proposal to extend a ceasefire. |
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