Canadian Dollar Surges 3% on Trump-Trudeau Call

In the early hours of March 29, 2025, global financial markets were abuzz with significant developments. Former U.S. President Donald Trump held a call with Canadian Prime Minister Justin Trudeau, discussing a potential meeting post the Canadian elections. This news sparked a notable surge in the Canadian dollar against the U.S. dollar, reflecting market optimism about the potential for improved bilateral relations. The conversation also touched on broader geopolitical issues, including Russia's efforts to ease European sanctions through diplomatic channels.

Meanwhile, Russian President Vladimir Putin has been actively engaging with Trump, exploring the possibility of easing European sanctions against Russia. This diplomatic maneuver comes at a time when the geopolitical landscape is fraught with tensions, particularly in the context of the ongoing conflict between Russia and Ukraine. The White House, in response to the stalemate in Russo-Ukrainian negotiations, has imposed new economic demands on Ukraine, further complicating the diplomatic efforts.

In other news, the European Union has levied significant fines on major tech giants, Apple and Meta, for alleged antitrust violations. This move underscores the EU's commitment to regulating the tech industry and ensuring fair competition. The fines are expected to have a ripple effect on the global tech sector, prompting other regions to reconsider their regulatory frameworks.

Additionally, the global automotive industry is bracing for changes as Ferrari announced a price increase for select models starting April 1, 2025. This decision is part of a broader strategy to maintain the brand's exclusivity and luxury appeal amidst rising production costs. The price hike is expected to impact consumer behavior, with luxury car enthusiasts potentially seeking alternatives or waiting for more favorable market conditions.

The U.S. Federal Reserve's annual survey revealed a positive outlook for small businesses, with many reporting increased sales and revenue growth. This optimistic trend is a testament to the resilience of the U.S. economy, despite ongoing challenges such as inflation and supply chain disruptions. The survey also highlighted the importance of government support and favorable economic policies in fostering small business growth.