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EU commissioner for industrial strategy says response to US tariffs will be proportionate
EU commissioner for industrial strategy says response to US tariffs will be proportionate
Remarks by Stéphane Séjourné, the EU commissioner for prosperity and industrial strategy
Gold price struggles to capitalize on intraday recovery from multi-week low; remains below $3,050
Gold price struggles to capitalize on intraday recovery from multi-week low; remains below $3,050
Gold price (XAU/USD) attracts some buyers near the $2,972-2,971 area, or a nearly four-week low touched earlier this Monday, and for now, seems to have stalled its retracement slide from the all-time peak touched last week.
Resources
TradeWar
SEO
Gold
Commodities
BoJ maintains assessment for all of Japan's nine regions
BoJ maintains assessment for all of Japan's nine regions
In its quarterly regional economic report published on Monday, the Bank of Japan (BoJ) maintains the assessment for all of Japan's nine regions.
GDP
BOJ
CentralBanks
USDJPY
China reportedly considers frontloading stimulus to counter hit from tariffs
China reportedly considers frontloading stimulus to counter hit from tariffs
If true, it could help to ease the nerves a little ahead of the close in Asia today
It's a bloodbath heading into European trading
It's a bloodbath heading into European trading
The market pain continues to start the new week
market overview
NZD/USD remains under selling pressure near 0.5550 on Chinese tariff retaliation
NZD/USD remains under selling pressure near 0.5550 on Chinese tariff retaliation
The NZD/USD pair remains under selling pressure around 0.5565 during the early European session on Monday.
TradeWar
Majors
NZDUSD
Macroeconomics
FX option expiries for Apr 7 NY cut
FX option expiries for Apr 7 NY cut
FX option expiries for Apr 7 NY cut at 10:00 Eastern Time via DTCC can be found below.
Currencies
Options
ECB’s Stournaras: Trump’s tariffs could slow Euro area growth by 0.5 to 1 percentage points
ECB’s Stournaras: Trump’s tariffs could slow Euro area growth by 0.5 to 1 percentage points
European Central Bank (ECB) policymaker Yannis Stournaras warned on Monday, “Trump tariffs risk large euro-area demand shock,” per the Financial Times (FT).
ECB
EURUSD
CentralBanks
InterestRate
ForexLive Asia-Pacific FX news wrap: Freefallin’
ForexLive Asia-Pacific FX news wrap: Freefallin’
Forex news for Asian trading on Apr 7, 2025
Session wrap
Wrap Asia
Japan finance minister Kato says closely watching market moves
Japan finance minister Kato says closely watching market moves
Just generic comments from Kato here, nothing substantial.
USD/CAD trades with positive bias around mid-1.4200s as Oil prices tumble to multi-year low
USD/CAD trades with positive bias around mid-1.4200s as Oil prices tumble to multi-year low
The USD/CAD pair attracts some follow-through buying for the second consecutive day on Monday and looks to build on last week's modest recovery from the 1.4030-1.4025 region or year-to-date low.
USDCAD
TradeWar
RiskAversion
Fed
Currencies
Treasurer Chalmers: Expect Australian GDP to take a hit due to Trump’s tariffs
Treasurer Chalmers: Expect Australian GDP to take a hit due to Trump’s tariffs
Commenting on the impact of US President Donald Trump’s tariffs on Monday, Australian Treasurer Jim Chalmers said that he expected the economy to take a  hit.
Australia
GDP
TradeWar
AUDUSD
Japanese Yen remains close to multi-month high against a broadly weaker USD
Japanese Yen remains close to multi-month high against a broadly weaker USD
The Japanese Yen (JPY) reverses an intraday dip against its American counterpart and climbs back closer to the top end of the daily range heading into the European session on Monday.
TradeWar
BOJ
SEO
USDJPY
RiskAversion
WTI tumbles to a four-year low near $60.00 amid Trump’s tariff woes 
WTI tumbles to a four-year low near $60.00 amid Trump’s tariff woes 
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.30 during the early Asian session on Monday. The WTI price falls to its lowest point since April 2021 amid the fears that US President Donald Trump’s global tariffs would push the United States (US) into a recession.
WTI
Oil
Commodities
Macroeconomics
Ackman draws a bead on Lutnick - pick a "bad idea", "irreconcilable conflict of interest"
Ackman draws a bead on Lutnick - pick a "bad idea", "irreconcilable conflict of interest"
It looks like Ackman is jumping on the band wagon to bring down US Commerce Secretary Lutnick
USD/INR strengthens as Trump-induced tariffs storm intensifies
USD/INR strengthens as Trump-induced tariffs storm intensifies
The Indian Rupee (INR) trades in negative territory on Monday. The local currency remains under pressure after US President Donald Trump unveiled a bigger-than-expected wall of tariffs around the world's largest economy, upending trade and supply chains.
EmergingMarkets
SEO
USDINR
India
Macroeconomics
Japan’s Hayashi: Closely watching market moves with a sense of urgency
Japan’s Hayashi: Closely watching market moves with a sense of urgency
Japanese Chief Cabinet Secretary Yohsimasa Hayashi said on Monday that he is “closely watching market moves with a sense of urgency.”
Japan
USDJPY
Macroeconomics
PBOC boosts Gold reserves for the fifth consecutive month
PBOC boosts Gold reserves for the fifth consecutive month
The latest data published by the People’s Bank of China (PBOC) on Monday showed that the Chinese central bank increased its state Gold reserves for the fifth consecutive month.
PBOC
CentralBanks
Gold
Goldman Sachs raises US recession probability to 45%odds, cuts 2025 growth forecast
Goldman Sachs raises US recession probability to 45%odds, cuts 2025 growth forecast
Goldman Sachs' “Countdown to Recession” cites Trump's tariff risks and rising uncertainty
China stock index futures cratered at the open
China stock index futures cratered at the open
Not as badly as some other Asian exchanges
China Stock Market
EUR/USD flat lines above mid-1.0900s, investors seem non-committed amid rising trade tensions
EUR/USD flat lines above mid-1.0900s, investors seem non-committed amid rising trade tensions
The EUR/USD pair reverses an Asian session dip to the 1.0880 aera and for now, seems to have stalled its retracement slide from the vicinity of mid-1.1100s, or the highest level since September touched last week.
EURUSD
TradeWar
Resources
RiskAversion
Currencies
PBOC sets USD/CNY reference rate at 7.1980 vs. 7.1889 previous
PBOC sets USD/CNY reference rate at 7.1980 vs. 7.1889 previous
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1980 as compared to last Thursday's fix of 7.1889 and 7.3162 Reuters estimate.
Currencies
CentralBanks
USDCNY
PBOC
Gold Price Forecast: XAU/USD attracts some sellers below $3,000 as Trump's tariffs hit
Gold Price Forecast: XAU/USD attracts some sellers below $3,000 as Trump's tariffs hit
The Gold price (XAU/USD) faces some selling pressure to around $2,985 during the early Asian session on Monday, pressured by some profit-taking.
Gold
XAUUSD
Macroeconomics
Commodities
GBP/USD bounces off one-month low, defends 200-day SMA and retakes 1.2900
GBP/USD bounces off one-month low, defends 200-day SMA and retakes 1.2900
The GBP/USD pair attracts some dip-buyers near the 1.2830 region, or over a one-month low touched during the Asian session on Monday and for now, seems to have stalled its retracement slide from a six-month peak touched last week.
Resources
Currencies
TradeWar
RiskAversion
GBPUSD
Japan’s Ishiba seeks for broad deal with US over tariffs
Japan’s Ishiba seeks for broad deal with US over tariffs
Japanese Prime Minister Shigeru Ishiba said late Sunday that Japan would continue pressing the United States to lower tariffs on Japanese goods, but acknowledged that progress was unlikely to come overnight. Ishiba has said he is aiming to have a call with Trump this week.
TradeWar
UnitedStates
Japan
Macroeconomics
Ukraine’s President Zelenskyy: Russian military strikes energy facility in Kherson  
Ukraine’s President Zelenskyy: Russian military strikes energy facility in Kherson  
Ukrainian President Volodymyr Zelenskyy said late Sunday that the Russian military struck an energy facility in Kherson on Friday. Russians shelled more than 30 localities in the Kherson region, including residential areas of Kherson.
Russell
Ukraine
Macroeconomics
US President Donald Trump says not making a deal with China unless solving trade deficit
US President Donald Trump says not making a deal with China unless solving trade deficit
US President Donald Trump said on Sunday that unless the China trade deficit is solved, there will be no deal, according to Reuters.
China
TradeWar
UnitedStates
Macroeconomics
Japan - Nikkei 225, Topix futures halted, limit down - first domino?
Japan - Nikkei 225, Topix futures halted, limit down - first domino?
Stock market collapse continues - circuit breaker hit for Japan equities
Japan data - February real wages decline again, -1.2% y/y (2nd time in a row)
Japan data - February real wages decline again, -1.2% y/y (2nd time in a row)
Excuse me for the interruption, we'll be back to the Trump crash in just a few moments time
AUD/USD tumbles to a five-year low below 0.6000 amid US-China tariffs war
AUD/USD tumbles to a five-year low below 0.6000 amid US-China tariffs war
The AUD/USD pair tumbles to near 0.5985 for the first time since the COVID-19 pandemic during the early Asian session on Monday.
TradeWar
Majors
AUDUSD
Macroeconomics