Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
S&P Global Ratings warns that Canada's provincial budgets in 2025 will face mounting pressures from federal policy changes, rising costs, and newly imposed U.S. tariffs. The economic outlook varies by province, with some more vulnerable due to their export exposure.
The 25% tariffs on most Canadian exports to the U.S., effective March 4, 2025, alongside a 10% tariff on Canadian energy imports, add to existing fiscal strains. In response, Canada imposed a 25% tariff on C$30 billion of U.S. imports, with plans to extend tariffs to an additional C$125 billion after consultations. These trade barriers could significantly impact growth, particularly in Alberta and New Brunswick, where over 30% of GDP is tied to U.S. exports.
Provincial governments are contending with rising wage and goods costs that have outpaced revenue growth. However, recent trends indicate revenues are catching up, with provinces prioritizing healthcare and transportation infrastructure investments. Midyear financial reports suggest weaker-than-expected fiscal performance, further compounded by federal policies like reduced immigration targets.
A scenario analysis by S&P Global Ratings Economics predicts that the tariffs could disrupt key sectors and slow economic growth in 2025. However, per capita GDP levels are expected to remain resilient in the short-to-medium term. The tariffs are likely to be reduced to 10% in 2026 as negotiations under the United States-Mexico-Canada Agreement (USMCA) begin.
With provinces starting the budget cycle on varying fiscal bases, their ability to mitigate these economic headwinds will be crucial. The coming months will reveal how effectively they adapt to shifting trade dynamics and fiscal pressures.
