Correction to Bitcoin Market Talk

1235 GMT - Treasury prices have risen recently, taking yields lower, but this might not last due to looming prospects of U.S. President Trump implementing hefty trade tariffs on imports, LBBW analysts say in a note. "The sword of Damocles of an all-out trade war continues to hover over the financial markets, which in our view argues against a sustained upswing in U.S. Treasury prices for the time being," they say. Markets have reacted with relief that Trump didn't opt for immediate tariffs. Trump's remarks that he would rather not impose tariffs on China sent the DXY dollar index to a five-week low. Ten-year Treasury yields trade steady at 4.640%. They hit a two-week low of 4.530% earlier this week, according to Tradeweb. ([email protected])1147 GMT - To confront a combative administration south of the border Canada needs to draw up a new plan for its economic future and roll out a Buy Canada Act governing procurement, R&D and AI for defence and national security applications, National Bank of Canada CEO Laurent Ferreira argues. Speaking to the Chamber of Commerce of Montreal, Ferreira says such an act would enable Canada to protect its national interests and also revitalize and promote Canadian companies and industries. "Our country's economy is the most important consideration right now," he said, based on the translation of a speech given in French. Ferreira expects the U.S. will swiftly cut regulations and taxes for its businesses in the event of a trade war, which would likely widen the productivity gap between the countries. He says Canada will need to react quickly to help its businesses by lightening tax and regulatory burdens. ([email protected]; @RobbMStewart)1119 GMT - The cost of insuring euro credit against default using credit default swaps declines as market sentiment improves after U.S. President Donald Trump toned down on the threat of tariffs on China. "Trump's pro-growth policies and easing trade rhetoric buoyed sentiment," Saxo analysts say in a note. The iTraxx Europe Crossover index which tracks euro junk bond credit default swaps falls 2 basis points to 286bps, a 4-month low, S&P Global Market Intelligence data show. ([email protected])1116 GMT - The dollar's recent strength is losing momentum but choppy range-bound trading is more likely than the start of a significant downtrend, Societe Generale's Kit Juckes says in a note. The dollar falls after U.S. President Donald Trump told Fox News he'd rather not impose new tariffs on China but remains stronger against other G-10 currencies compared to two or six months ago, he says. "We've long thought the tariff threat is a bargaining position rather than a firm commitment, but they are still likely to be put in place in some form." Juckes sees the DXY dollar index stuck in a range of 99.000-110.000 for now. The index falls 0.5% to 107.528, having earlier hit a five-week low of 107.276.([email protected])1050 GMT - Bitcoin edges higher but is below the record high reached at the start of the week as it struggles for renewed momentum. The cryptocurrency has consolidated some of its gains from earlier in the week even after U.S. President Donald Trump signed an executive order Thursday to promote cryptocurrencies and work towards developing a digital asset stockpile. "The lack of immediate clarity on his plans for a national crypto stockpile weighed on sentiment," Saxo Bank analysts say in a note. Bitcoin rises 2.1% to $105,275, having reached a record high of $109,071 on Monday, according to LSEG. ([email protected])1048 GMT - Europe could attract U.S. workers indignant at the country's recent political developments, top central banker Christine Lagarde says days after Donald Trump was inaugurated for a second term as president of the world's largest economy. Europe has plenty of its own homegrown talent, as well as ambition and means, the president of the European Central Bank says, insisting that the European economy has scope to grow. But that could be supplemented by Americans looking to leave the country, she says. "Maybe it is time to import some of the talent that may be disenchanted from the other side of the sea," she tells a panel at the World Economic Forum in Davos, Switzerland. ([email protected]; @joshualeokirby)1041 GMT - There is too much gloom around the European economy, BlackRock CEO Larry Fink tells a panel at the World Economic Forum in Davos, Switzerland. "My number-one observation this week is that I've never felt larger or more profound pessimism [about Europe,]" he says. That downbeat sentiment is unjustified, Fink says, though he notes that European banking and capital-market unions are overdue. "It's probably time to be investing back into Europe, focusing on Europe," the investment chief says.([email protected]; @joshualeokirby))1042 GMT - The European Central Bank will maintain a focus on the eurozone's lacklustre economic progress, keeping rate cuts ahead very likely, ING economist Bert Colijn says. Activity in the currency area's private sector rebounded a little at the start of the year, but growth is likely to remain sluggish, surveys set out Friday suggest. There are some signs that price pressures are growing again, but the bank's policymakers look comfortable with a cut to interest rates next week and more at subsequent meetings of the governing council, Colijn tells clients in a note.([email protected]; @joshualeokirby)1036 GMT - The dollar's decline after U.S. President Donald Trump said he'd prefer not to impose new tariffs on China could prove limited, MUFG Bank analyst MUFG Bank's Lee Hardman says in a note. Trump is still likely to implement higher tariffs, he says. Trump wants lower interest rates and a weaker dollar to support the U.S. economy. However, his policy of tariffs, tighter immigration and tax cuts, if implemented, will "help to keep U.S. yields and the dollar higher for longer." Trump told Fox News that he would "rather not" impose new tariffs on China, suggesting the possibility of a trade deal. The DXY dollar index falls 0.5% to 107.454 after earlier hitting a five-week low of 107.276. ([email protected])1025 GMT - London-listed miners are seeing their shares boosted by rising base-metal prices, AJ Bell's investment director Russ Mould writes. The share price gains are propping up the resource-heavy FTSE-100 index, which has broken records in recent days, he writes. Copper, aluminium, lead, zinc and tin are all trading higher on the weak dollar. Given metals are priced in dollars, a decline in the greenback makes commodities cheaper for buyers holding other currencies, he writes. Antofagasta shares trade up 3.93% to 1,798.00 pence, Glencore's rise 2.5% to 382.95 pence, Rio Tinto's London-listed shares climb 1.9% to 5,041.00 pence while Anglo American's edge up 1.84% at 2,595.00 pence. ([email protected])1018 GMT - U.S. Treasury yields fall slightly in early European trade following remarks by the U.S. President Donald Trump that he would prefer to avoid imposing tariffs on China. "These remarks have eased concerns among investors who feared that high import tariffs could reignite inflation," ActivTrades' Ricardo Evangelista says in a note. The 10-year Treasury yield earlier declines to 4.613%. It last trades marginally lower at 4.634%, Tradeweb data show. ([email protected])Corrections & AmplificationsThis was corrected at 8:03 a.m. ET because the snippet at 1050 GMT, misstated the current bitcoin price.