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Fed’s Schmid: Tariffs have elevated economic uncertainty
Fed’s Schmid: Tariffs have elevated economic uncertainty
Kansas City Federal Reserve (Fed) President Jeff Schmid said that he would remain “squarely focused” on inflation and cautioned that new United States (US) import taxes could drive prices higher and bolster rising public inflation expectations.
Fed
CentralBanks
Inflation
InterestRate
Fed’s Logan: Fed’s policy stance is well positioned
Fed’s Logan: Fed’s policy stance is well positioned
During her Thursday remarks, Dallas Federal Reserve (Fed) President Lorie Logan warned that tariffs exceeding expectations would almost certainly spark a surge in both unemployment and inflation.
Fed
CentralBanks
Inflation
InterestRate
DollarIndex
White House’s Miran: President Trump is buying time to create trade deals
White House’s Miran: President Trump is buying time to create trade deals
Stephen Miran, US President Donald Trump’s Economic Adviser, argued that the White House’s policies are aimed at keeping inflation contained.
TradeWar
UnitedStates
DollarIndex
BoE’s Breeden: US tariffs are the biggest change in trade policy
BoE’s Breeden: US tariffs are the biggest change in trade policy
Bank of England (BoE) Deputy Governor Sarah Breeden gave her views on the recently announced United States (US) tariffs and their potential economic impact.
CentralBanks
UnitedKingdom
BOE
GBPUSD
Change
CAD holds range but USD undertone is softening – Scotiabank
CAD holds range but USD undertone is softening – Scotiabank
There was a little confusion around the temporary roll-back of US tariffs yesterday.
Technical Analysis
Canada
BOC
USDCAD
Banks
USD softer as there are still major challenges – Scotiabank
USD softer as there are still major challenges – Scotiabank
So the US paused reciprocal tariff action for 90 days on non-retaliating countries but maintained a base line 10% tariff just hours after imposing aggressive levies on its major trading partners. China gets whacked with 125% tariffs though, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
US Elections
Fed
Banks
DollarIndex
ECB: April cut looks likely – Standard Chartered
ECB: April cut looks likely – Standard Chartered
ECB’s April policy meeting could be a close call, but we lean towards a 25bps cut. For now, our base case is a June hold, but we see growing risks of another cut given tariff threats.
ECB
InterestRate
Banks
JPY outperforms as risk sentiment sours – Scotiabank
JPY outperforms as risk sentiment sours – Scotiabank
Japanese Yen JPY is outperforming nearly all the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
BOJ
Japan
USDJPY
Banks
GBP firmer as markets pare bets for BoE easing – Scotiabank
GBP firmer as markets pare bets for BoE easing – Scotiabank
Pound Sterling (GBP) is up about 0.6% vs. the USD and a mid-performer among its G10 peers, climbing back into the 1.29-1.30 congestion range that had prevailed ahead of last week’s tariff turbulence, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBPUSD
Banks
Technical Analysis
EUR well supported on US tariff relief – Scotiabank
EUR well supported on US tariff relief – Scotiabank
Euro (EUR) is entering Thursday’s NA session with an impressive 1.1% gain, climbing back toward the upper end of its one-week range and threatening a break to levels last seen in October.
Technical Analysis
EURUSD
Banks
Bank of England postpones long-dated bond sale
Bank of England postpones long-dated bond sale
Long bonds delayed "in light of recent market volatility"
US: Initial Jobless Claims increased to 223K last week
US: Initial Jobless Claims increased to 223K last week
US citizens filing new applications for unemployment insurance ticked a tad higher to 223K for the week ending April 5, as reported by the US Department of Labor (DOL) on Thursday. This print matched initial estimates and was higher than the previous week's unrevised tally of 219K.
EURUSD
UnitedStates
Employment
EconomicIndicator
DollarIndex
US initial jobless claims 223K vs 223K estimate
US initial jobless claims 223K vs 223K estimate
The US initial and continuing claims for the current week
US March core CPI +2.8% vs +3.0% y/y expected
US March core CPI +2.8% vs +3.0% y/y expected
US CPI report highlights for March 2025
ForexLive European FX news wrap: Dollar struggles as markets digest Trump's tariffs pause
ForexLive European FX news wrap: Dollar struggles as markets digest Trump's tariffs pause
Forex news from the European morning session on Apr 10, 2025
Session wrap
Wrap Europe
EUR/USD flirts with fresh six-month high after soft CPI release
EUR/USD flirts with fresh six-month high after soft CPI release
The EUR/USD pair sprints higher to 1.1133 at the time of writing on Thursday after the Consumer Price Index (CPI) release.
EURUSD
TradeWar
UnitedStates
Macroeconomics
Eurozone
Gold: Bulls strike back – OCBC
Gold: Bulls strike back – OCBC
Gold rose back above 3100, from under 3000 overnight as earlier sell-off dissipated. XAU/USD was last at 3123 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Gold
XAUUSD
Banks
Metals
Commodities
WH Economic Adviser Hassett: Conversations on China have not begun yet
WH Economic Adviser Hassett: Conversations on China have not begun yet
In an interview with CNBC on Thursday, Kevin Hassett, Director of the US National Economic Council (NEC), said that there is a big inventory of deals that are very close to the finish line, per Reuters.
China
UnitedStates
Macroeconomics
EC President von der Leyen: EU agrees on 90-day pause in countermeasures against US
EC President von der Leyen: EU agrees on 90-day pause in countermeasures against US
European Commission President Ursula von der Leyen confirmed on Thursday that they have agreed to pause countermeasures against the US tariffs for 90 days.
ECB
EURUSD
Europe
Politics
Macroeconomics
USD/JPY spikes, then retreats – OCBC
USD/JPY spikes, then retreats – OCBC
USD/JPY jumped sharply to 148.27 overnight as safe haven trades unwind after Trump announced a 90-day tariff pause. We had cautioned for the risk of a short squeeze in our report yesterday. Pair was last at 145.78 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Technical Analysis
BOJ
USDJPY
Banks
EUR/NOK fails to hold breakout – Societe Generale
EUR/NOK fails to hold breakout – Societe Generale
EUR/NOK's recent breakout attempt above 12.05 was short-lived, as strong resistance pushed the pair back into its consolidation range. Key support at 11.68 now becomes critical for the near-term outlook, Societe Generale's FX analysts report.
Technical Analysis
EURNOK
Banks
USDNOK
S&P 500 posted the third largest daily gain since World War II. What's next?
S&P 500 posted the third largest daily gain since World War II. What's next?
Following the Trump's tariffs pause announcement, the S&P 500 rallied strongly with the move going into history books
S&P Futures
AUD/USD: Tariff relief for 90 days – OCBC
AUD/USD: Tariff relief for 90 days – OCBC
Australian Dollar (AUD) rebounded 4% from its lows overnight after Trump pauses tariffs on most nations for 90 days. Pair was last at 0.6170 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Technical Analysis
Banks
AUDUSD
USD/JPY: Downward momentum is beginning to ease – UOB Group
USD/JPY: Downward momentum is beginning to ease – UOB Group
After the sharp swings, the outlook is unclear; US Dollar (USD) could trade in a range of 145.40/148.50 vs Japanese Yen (JPY).
Technical Analysis
USDJPY
Banks
USD/CNH: 2-way trades for the time being – OCBC
USD/CNH: 2-way trades for the time being – OCBC
Despite Trump raising tariffs on China to 125% overnight, USD/CNH fell as broader sentiment improved. Trump unexpectedly paused higher tariffs on 56 nations (excluding China) for 90 days.
Technical Analysis
China
USDCNH
Banks
NZD/USD: Weakness in NZD has stabilised – UOB Group
NZD/USD: Weakness in NZD has stabilised – UOB Group
New Zealand Dollar (NZD) could test 0.5695 vs US Dollar (USD) before the risk of a pullback increases. In the longer run, weakness in NZD has stabilised; it is likely to consolidate between 0.5540 and 0.5760 for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
NZDUSD
Well, at least the bond market has calmed down for now
Well, at least the bond market has calmed down for now
It was the pain in the bond market that got Trump to change his mind supposedly
Bonds
GBP: Gilt baggage – ING
GBP: Gilt baggage – ING
EUR/GBP briefly traded to 0.8650 yesterday – a move which seems to coincide with the sell-off in UK gilts. That UK gilts even underperformed US Treasuries is quite remarkable and probably very unnerving for the UK's Debt Management Office, ING’s FX analyst Chris Turner notes.
Technical Analysis
EURGBP
Banks
GBPUSD
Copper rallies on tariff pause – ING
Copper rallies on tariff pause – ING
Copper and other base metals rallied in early morning trading today following President Trump’s 90-day tariff pause, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
Metals
Copper
Commodities
Banks
EU considers pausing countermeasures against US for 90 days – Reuters
EU considers pausing countermeasures against US for 90 days – Reuters
The European Union is considering pausing its countermeasures, due on April 15, against the United States' tariffs for 90 days, Reuters reported on Thursday, citing EU diplomats.
EURUSD
Europe
Eurozone
Politics
Macroeconomics
RBA’s Bullock: Too early for us to determine what the path will be for interest rates
RBA’s Bullock: Too early for us to determine what the path will be for interest rates
Reserve Bank of Australia (RBA) Governor Michele Bullock spoke at the Chief Executive Women 40th Anniversary Melbourne Annual Dinner, on Thursday.
RBA
CentralBanks
InterestRate
AUDUSD