• US Holiday action turns markets cautious.
• Trump’s latest Tariff send shocks through markets with the President wanting to impose 10% tariffs on European countries starting Feb 1- this may continue to undermine the US Dollar.
• Canadian CPI 2.4% y/y vs 2.2% expected.
• China fourth quarter GDP hits a 3 year low of 4.5% y/y citing weak domestic demand.
• NZ PMI December 2025 51.5 breaking a 21 month of contractions, prior 47.2 a sign that domestic momentum is rebuilding.
• The Australian Dollar (AUD) has been the strongest currency over the last 24 hours with the British Pound (GBP) the worst performing on the main board.
