Bank of Wealth: Remain cautious in response to news related to tariff policies, and be alert for statements not directly from Trump

Bank of Wealth says that some positive sentiment is emerging around the prospects of tariff compromises, but caution needs to be maintained.

Kenn Brendan McKenna, a strategist at Bank of Wealth in New York, said, "I've realized that any statements not directly from Trump should not be immediately traded or believed. So far, I will still remain cautious and tend towards risk aversion. But if tariffs are reduced and an agreement is reached, the Canadian dollar and Mexican peso as well as the entire foreign exchange market should see some relief rebounds."

The US Secretary of Commerce previously stated that he believes Trump will compromise on tariffs with Canada and Mexico or announce reductions tomorrow.