Market round-up: Tariff flip-flop, US CPI slows, Big Bank Earnings

  • Markets rally as Trump U-turns on reciprocal tariffs 

  • U.S. slaps 125% tariffs on Chinese goods

  • Gold ↑ nearly 3% week-to-date 

  • US CPI unexpectedly cools in March 

  • US500 waits on big US bank earnings

Trump Tariffs Gold US500 Earnings

Markets gripped by tariff turmoil ahead of US CPI

  • Trump’s reciprocal tariffs go live, including 104% tariffs on China 

  • NAS100 on the cusp of forming “death cross” formation 

  • Over past year US CPI triggered moves of ↑ 1.5% & ↓ 1.8%

  • Technical levels: 18200, 17000 &16311

Trump trade war China NAS100 Crude Oil

Week Ahead: S&P 500 to flirt with "bear market"?

  • US500 plummets to lowest since August; after Thursday's biggest 1-day drop since pandemic 
     
  • China announces tariff retaliation ahead of Friday's NFP, Powell speech
     
  • Week Ahead: EU retaliation, US CPI, and earnings season could trigger more big moves!
US500 S&P 500 Stocks trade war Trump CPI inflation Earnings

Trump’s “Liberation Day” Tariffs: How are markets reacting?

  • President Trump unleashed "universal" and "reciprocal" tariffs on over 60 countries
     
  • US dollar set for biggest one-day drop since Nov 2022
     
  • US500 and NAS100 stock indexes now at lowest since Sept 2024
     
  • Gold hit new record high before pulling back
     
  • Safe havens, JPY and CHF, are top-G10 gainers against USD today
Trump Tariffs trade war Dollar index indices safe haven Gold Japanese Yen Swiss Franc

“Liberation Day”: How markets might react to Trump’s April 2nd tariff announcement?

  • Trump set to announce “reciprocal” tariffs on Wednesday, April 2nd.
     
  • Markets fear worst-case scenario: average US tariff hiked to 35%
     
  • Higher tariffs may lead to US stagflation: revived inflation, slower economic growth
     
  • Tariff shocker could see US dollar and stock indexes fall, gold soars
     
  • Less-than-feared tariffs could see US dollar and stocks rebound

 

Trump Tariffs trade war

Week Ahead: EURUSD braces for Trump tariffs, EU inflation, US jobs report

  • EURUSD up over 4% so far in March 2025; set for biggest monthly gain since Nov. 2022

  • Apr 1: Eurozone’s March CPI could offer mixed readings for EURUSD

EURUSD Tariffs Trump inflation US jobs report NFP ECB European Central Bank Federal Reserve Fed Chair Jerome Powell forex

CN50 index sensitive to flood of earnings this week

  • 34% of CN50 members reporting earnings this week.
     
  • Earnings by BYD and China Merchants Bank helped support CN50 above 21-day SMA.
     
  • 24% of CN50 members left to report earnings by the weekend.
China CN50 indices Earnings

Week Ahead: GBPUSD set for end-March mayhem?

  • GBPUSD ↑ almost 3% MTD 

  • Wednesday = UK Spring Statement + UK CPI 

  • Over past year UK CPI triggered moves of ↑ 0.5% & ↓ 0.3%

  • Across the Atlantic = Fed speeches + US PCE report 

GBPUSD inflation PCE BoE

Market round-up: Fed reassures, BoE holds, Gold hits records

  • Fed holds rates but attempt to calm tariff fears 

  • USDInd on breakout watch: support - 103.20, resistance - 104.10

  • GBPUSD jumps on BoE hawkish tilt, ↑ 3% MTD

  • XAUUSD hits fresh records above $3057, ↑ nearly 16% YTD

BoE Federal Reserve Gold USD GBPUSD

Central Bank Preview: GBPCHF braces for BoE/SNB combo

  • BoE seen holding rates, 70% chance SNB cuts

  • Over past year SNB triggered moves of ↑ 0.7% & ↓ 0.2%

  • Over past year BoE triggered moves of ↑ 0.4% & ↓ 0.6%

  • Bloomberg FX model: GBPCHF has 75% of trading within 1.1252 – 1.1534 over 1-week period

  • Technical levels: 1.1350, 50 & 200-day SMA

BoE SNB GBPCHF
Subscribe to