We come into the new week with the market waiting for more clarity on the US administration’s April 2nd tariff deadline. The latest speculation is that the tariffs could be narrower than expected which has inspired a risk on reaction as equity markets recover. read report
The fact that all four central banks that met this week came out with the same warnings around global trade uncertainties has been enough to keep investors from wanting to get too excited. Key standouts on Friday’s calendar for the remainder of the day come from UK public sector net borrowing, the Eurozone current account, UK CBI trends, Canada housing data, and Canada retail sales. read report
The Fed’s base case talk of transitory inflation, and plan to slow the balance sheet runoff were the two major takeaways from the policy decision. Both of these takeaways are what translated to the market’s dovish read, something that was well received by investors. read report
The run in the yellow metal has been super impressive, with gold continuing to push fresh record highs. Uncertainty around tariffs, trade policy and geopolitical risk have been major drivers of the bullish momentum. read report
The Euro continues to hold up well on the back of broad based US Dollar weakness and solid fundamental updates on the local front. The single currency has certainly been comforted by the fact that German lawmakers appear confident the debt-financed spending bill on defense and infrastructure will pass. read report
We’ve seen an extension of US Dollar weakness in recent sessions, partially on the back of deteriorating consumer sentiment in the US and perhaps partially because of the risk on reaction to the US avoiding a government shutdown. read report
Investors are clearly consumed with all things trade wars. Things continue to escalate on that front, opening more downside pressure on risk correlated assets. It’s also unsurprising to be seeing gold making fresh record highs in such a backdrop. read report
US CPI data came in softer than expected which offered up a temporary period of relief for investors. However, inability to get away from all of the worry around trade wars was enough to keep the market leaning to risk off flow. read report
Financial markets can’t get away from all things trade tariffs and it’s clear the unpredictability has been rattling sentiment. This unpredictability has also been behind a lot of the US Dollar selling we’ve been seeing, particularly against the other major currencies now viewed as alternative safe havens amidst a deterioration in confidence in the Buck. read report
It's been ugly out there. US equities just went through another day of red and are already down quite a bit this month. The NASDAQ has been the biggest loser of the three major US indices, down some 8% in March. read report
