US President Trump says he will commence land strikes over drugs, will "knock it all out"

Newsquawk Staff · 21 Jan 2026, 15:07 UTC

What it means

President Trump’s announcement regarding land strikes to target drug trafficking indicates a potential escalation in U.S. military engagement that could impact both domestic and foreign sentiment. This move may stir market uncertainty, affecting risk assets and safe-havens; investors should be cautious of implications for currencies and commodity prices, particularly in energy and precious metals.

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US Market Open, 6 Nov, 10:48 UTC · what it led with

APAC stocks were pressured; KOSPI slumped 6% following hefty losses in Samsung and SK Hynix.
USD is firmer against all G10 peers awaiting the US NFP report.

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FX headlines from our feed, and what the market did next.

Iranian President Pezeshkian says the Supreme Leader has granted the government some authority on dialogue, ISNA reports.
EUR/USD+0.1%
ECB policymakers see a December rate hike followed by a pause; New ECB staff estimates show the rise in bond yields cutting growth by a cumulative 100bps and inflation by 90bps in 2027-28 vs the September baseline, according to reports, citing sources.
EUR/USD−0.1%
ECB President Lagarde (Q&A) says policymakers believe they are in a good position to wait for incoming information. The situation they are in could have warranted a hike.
EUR/USD+0.1%

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