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☕️ GM Munchers! Ever notice how your coffee knows exactly when you’re about to sit down—so it can go cold? It’s like the coffee is trading against you.

I know, not our best joke… But it’s Friday! 🚀 

On today’s menu:

• Gold Tops $2,800: The Rally Isn’t Slowing Down 🏆

• How Tariffs Could Knock the CAD Off Balance ⚖️

• The Czech Central Bank Considers Buying Bitcoin 😏 

COMMODITIES
Gold Tops $2,800: The Rally Isn’t Slowing Down 🏆

Gold’s been hitting the gym, and it’s showing.

The shiny metal smashed through $2,800 per ounce this week, hitting an all-time high of $2,806 before taking a little breather.

It’s up 6% this month and counting—a performance that’s got traders wondering if $3,000 is next on the horizon.

So, what’s fueling gold’s Rocky Balboa moment? 🥊 

1️⃣ Safe-Haven Demand:

When the world feels like it’s on fire, people flock to gold like it’s the last air-conditioned room on a hot summer day.

With U.S. tariff threats looming over imports from Mexico, Canada, and even China, plus geopolitical chaos aplenty, the metal’s safe-haven appeal is soaring.

2️⃣ Central Bank Buying:

Big money is buying big gold.

Central banks are snapping up gold at a record pace, adding more fuel to the bullish fire.

It’s the kind of structural support that turns short-term rallies into long-term trends.

3️⃣ Inflation Fears:

Traders and central banks alike are glued to the monthly CPI report, treating it like the market’s crystal ball.

The burning question?

Is inflation finally cooling off, or is it here to stay—like that overly clingy friend from elementary school who always showed up uninvited?

If inflation proves to be sticky, it’s more rocket fuel for gold’s rally.

Persistent price pressures, combined with sluggish economic growth, have some analysts whispering that $3,000 gold isn’t just a dream—it’s becoming a very shiny reality.

What’s Next For Gold? 🤔 

Gold’s rally is more than just a glitter show—it’s a reaction to the turbulence rocking global markets.

With inflation and economic uncertainty still in play, the metal might not be done climbing.

And while gold shines, tariffs are casting a shadow on the Canadian dollar.

Could the loonie lose its balance? Let’s break it down. 🇨🇦 ⚖️

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TRADE WAR
How Tariffs Could Knock the CAD Off Balance ⚖️

If you think Bitcoin is the only volatile asset right now, the Canadian dollar (CAD) would like a word.

Trump's latest tariff threats are creating waves that have already pushed the USD/CAD to a five-year high.

And while the CAD isn’t quite as meme-worthy as crypto, its movements are just as consequential for traders and the economy alike.

The Backstory: Tariffs on the Horizon 📉

Trump has warned Canada and Mexico about incoming 25% tariffs—set to hit as soon as Saturday.

Markets didn’t take this lightly, with the CAD sliding across the board.

USD/CAD surged, CAD/JPY hit a seven-week low, and the loonie is staring down one of its worst weeks in recent memory.

Oil prices, a major player in Canada’s economy, are also in focus.

If tariffs kick in, they could choke trade flows, further weakening the CAD and driving up costs for imported goods.

Why Tariffs Matter for the CAD 🇨🇦 

Tariffs are like a wrecking ball for international trade, and the CAD, being heavily tied to Canada’s export-driven economy, is particularly vulnerable.

Here’s why:

• Higher Costs for Exports: Tariffs on goods like lumber, oil, and agriculture make Canadian products pricier in global markets, reducing demand and cutting into export revenue. Less revenue means fewer U.S. dollars flowing into Canada, weakening the CAD.

• Imported Inflation: A weaker CAD makes imported goods more expensive, raising costs for consumers and businesses alike.

• Trade Imbalances: With reduced exports and pricier imports, Canada risks a widening trade deficit, further pressuring the loonie.

The Balancing Act 🪶

Canada’s policymakers have a tough job ahead: protecting domestic industries while keeping the CAD competitive.

A strong CAD might reduce import costs, but it can make Canadian exports less attractive.

On the other hand, a weaker CAD supports exports but risks stoking inflation at home.

What Traders Should Watch 👀

1️⃣ USD/CAD Levels: With the pair already at a five-year high, watch for resistance or a potential breakout if tariffs are officially announced.
2️⃣ Oil Prices: Canada’s economy is deeply tied to energy. Any swings in oil prices will amplify CAD volatility.
3️⃣ Rate Adjustments: The BoC might respond to trade disruptions with more rate cuts. Keep an eye on policy shifts.

Tariffs may sound like political posturing, but for traders, they’re a signal to stay sharp.

The CAD’s balance hangs in the air—whether it lands on its feet or crashes depends on what comes next.

🚀 Pre-Market Fuel

1. UPS shares are getting destroyed.

2. Michael Saylor is on the cover of Forbes.

3. The Czech Central Bank is considering buying Bitcoin.

🍪 Munchy Memes

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