Real Vision: Finance & Investing Trump’s Canada Tariffs, Resilient U.S. Jobs Data, and Bitcoin's Breakout: PALvatar Market Recap, July 11 2025
Jul 11, 2025
A surprising 35% tariff on Canadian imports shakes up markets, driving volatility but highlighting the resilience of the U.S. job market. Jobless claims drop, showing continued strength amidst geopolitical tensions. Meanwhile, European markets struggle and UK GDP contracts. In the crypto world, Bitcoin rockets past $118K, sparking a massive rally and triggering a surge in Ethereum due to zk-proof integration plans. Tune in for swift insights on these pivotal market shifts!
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Impact of Trump's Canada Tariffs
- Trump's 35% tariff on Canadian imports sparked market volatility and boosted gold prices.
- The tariff excludes USMCA-covered sectors and may increase if Canada retaliates.
US Labor Market Resilience
- US jobless claims dropped unexpectedly to a seven-week low last week.
- This signals labor market strength, reducing likelihood of Fed rate cuts despite dovish signals.
Europe Faces Tariff and Inflation Pressures
- European markets fell amid tariff fears and rising inflation in France and Germany.
- Food and energy costs primarily drove these unexpected price increases.