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Investors are still trying to figure out how exactly US trade policies will play out and what the impact will be on the global economy. However, one thing that has become clear is that fears of the worst-case scenarios have faded away, inviting a welcome reversal back towards an uptick in risk appetite. read report
US CPI came in hot, the market is pricing just one rate cut in 2025, and yet, the US Dollar was unable to hold onto the post data rally. The market is certainly happy to see things play out this way and there is a sense that the extent of Dollar bullishness could already be well priced in. read report
We believe the story right now is much more about the market getting reacquainted with President Trump’s tactics than any material risk and fallout associated with extreme tariff measures. Key standouts on today's calendar come from US CPI and more Fed Chair testimony. read report
Markets are off to a quiet start this week, though we have seen a notable pickup in risk appetite. As we’ve already highlighted, a lot of the volatility we’ve been seeing in 2025 thus far feels like it could be a lot more about getting reacquainted with Trump tactics than from any real threat of a major shakeup in global trade. read report
The US Dollar rallied back on Friday and there were a number of drivers behind the price action. It shouldn’t come as any surprise that one of these drivers was President Trump and tariff talk, this time talk of reciprocal tariffs going into effect. read report
A lot of the focus for Friday will be on the US employment report. In recent sessions, we’ve seen financial markets enter a period of cautious wait-and-see trade presumably not wanting to make any major commitments until the data is out of the way. read report
