To my regular readers of watchlist, some context as to why this is going out a bit later than usual. Donald Trump over the weekend announced tariffs to be imposed on goods from Canada, Mexico and China. 

A 25% tariff was imposed on imports from Mexico and Canada, as well as a 10% duty on China. Energy resources from Canada will have 10% tariff.

Canada has retaliated with a 25% tariff on select US goods.

That has rocked the crypto markets over the last few hours. I expect a similar reaction from stocks when the equity markets open later in the day. 

Cryptocurrencies 

Even though watchlist is primarily focused on stocks, i occasionally may write on other markets. 

As at this morning, bitcoin is trading at $93,400 down 6.78% in the last 24 hours. Ethereum has fallen harder down 19% in the last 24 hours trading sub $2500.

The dip isnt surprising because there is a strong correlation between the movement of crypto prices and macro happenings. 

I expect a milder rebound sometime within the week, but a volatile trading week as a whole. 

US listed CAD stocks

Canada will be hit harder by the tariffs compared to the other countries because of the close relationship between both countries trade wise.

Stocks such as $ENB $TD and $BN will be hit hard, but should recover later in the week. 

US stocks 

US stock futures are trading in the red as well. I expect the market to dip too. Companies with an export focus such as $NKE and $APPL will be hit hard as well once China announces it’s own retaliaotry tariffs. 

Oil stocks such as $CVX and $XOM could also dip as well. 

Gold 

Gold is a safe haven asset. Meaning investors take position when there is uncertainty such as we face now. I expect gold to hit a new high. 

It is going to be a volatile week as a whole. You can catch me all day on twitter @quansimodo and the company handle @greentickertale 

I will write standalone pieces on various assets depending on where they trade during the week.