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The US administration's tariffs on Canada, Mexico, and China have triggered retaliatory measures and market volatility, with the Australian dollar hitting a near five-year low. While Australia may remain insulated due to its trade surplus with the US, companies like Fisher and Paykel Healthcare and Cettire face potential impacts, leading to significant stock declines. Analysts suggest a cautious outlook, emphasizing the importance of maintaining perspective amid ongoing trade tensions.
[Bloomberg](https://www.bloomberg.com) and [SEC]
The ASX 200 is up over 8% year-to-date as 2024 closes, driven by strong performances in financial stocks, particularly the Commonwealth Bank, which rose 40%. In contrast, the tech sector surged over 50%, while energy and materials faced declines. Looking ahead, forecasts for 2025 vary, with predictions for the ASX 200 ranging from 7900 to 9300 points, influenced by geopolitical developments and potential RBA rate cuts.
Bitcoin surged to a new all-time high of $106,400 on December 16, driven by speculation surrounding President-elect Donald Trump's potential plans for a US Bitcoin strategic reserve. The cryptocurrency has seen a remarkable 148% increase over the past year, with investors optimistic about reaching $120,000 by the end of 2024. Trump's administration is viewed as more crypto-friendly, with key appointments signaling a shift towards embracing digital assets.
As the US election approaches, Vice President Harris holds a narrow lead over former President Trump in recent polls, with markets bracing for volatility. The potential impact on various sectors is significant, with concerns over tariffs affecting Australian exports and differing energy policies between the candidates. Analysts suggest cautious investment strategies amid heightened market tension and geopolitical risks.
Peter McGuire
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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