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Silver Price Forecast: XAG/USD jumps to near $34 as Trump’s tariff plan improves safe-haven demand
Silver price (XAG/USD) advances to near $34.00 during European trading hours on Wednesday.
Silver
XAGUSD
Fed
TradeWar
SupportResistance

ForexLive European FX news wrap: Markets on edge awaiting Trump tariffs
Forex news from the European morning session on Apr 2, 2025
Session wrap
Wrap Europe

US Dollar stabilizes at104.00 in the DXY just hours before Trump's announcement
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, starts to turn red and dips below 104.00 at the time of writing on Wednesday, while equities sell off and bond yields drop. The Greenback
DollarIndex
Macroeconomics
UnitedStates
SEO
TradeWar

US MBA mortgage applications w.e. 28 March -1.6% vs -2.0% prior
Latest data from the Mortgage Bankers Association for the week ending 28 March 2025
USD

USD/CNH: Major resistance at 7.2980 is unlikely to come into view – UOB Group
US Dollar (USD) could rise to 7.2880 before levelling off; the major resistance at 7.2980 is unlikely to come into view.
Technical Analysis
USDCNH
Banks

S&P 500: Next downward objectives are at 5400/5390pts and 5300pts – Societe Generale
S&P 500 has so far defended the low of last down leg near 5500pts, which is also an ascending trend line connecting troughs of April 2024/August 2024, Societe Generale's FX analysts report.
Technical Analysis
Banks
SP500

USD/JPY: Likely to trade in a range between 149.05 and 150.20 – UOB Group
US Dollar (USD) is likely to trade in a range between 149.05 and 150.20 vs Japanese Yen (JPY). In the longer run, USD appears to have moved into a 148.40/151.00 consolidation range, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
USDJPY
Banks

EURUSD slides as fears about "powerful" tariffs grow
The French Government Spokeswoman Primas is expecting "powerful" tariffs in the range of 20-25%
EUR
USD

USD/CNH: Inability to hold 7.22 can lead to a deeper pullback – Societe Generale
USD/CNH recently tested the 200-DMA at 7.22 resulting in a brief rebound, Societe Generale's FX analysts report.
Technical Analysis
USDCNH
Banks

ECB's Schnabel: Trade fragmentation is structurally harmful for economic growth and inflation
European Central Bank (ECB) board member Isabel Schnabel said on Wednesday that trade fragmentation is structurally harmful for economic growth and inflation, per Reuters.
ECB
TradeWar
CentralBanks

NZD/USD: Above 0.5725, weakness in NZD has stabilised – UOB Group
New Zealand Dollar (NZD) could continue to rebound but any advance is likely part of a 0.5670/0.5725 range. In the longer run, if NZD breaks above 0.5725, it would mean that the weakness has stabilised, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
NZDUSD

NZD/USD Price Forecast: Rallies to near 0.5750
The NZD/USD pair advances to near 0.5745 during European trading hours on Wednesday.
NZDUSD
China
UnitedStates
TradeWar
SupportResistance

China restricts companies from investing in the US as tensions rise - BBG
Bloomberg with the report saying that several branches of China’s top economic planning agency have been instructed in recent weeks to hold off on registration and approval for firms that are looking to invest in the US
market overview

Estimating the impact of US-related uncertainty – Standard Chartered
Despite ‘Liberation Day’ announcements, we expect uncertainty to remain high over the coming months. Heightened trade policy uncertainty could potentially lower global GDP by c.1.0-1.5%. Most of this drop would reflect a decline in US output and that of other major economies.
TradeWar

It's the known unknowns that is gripping markets with uncertainty
There are still so many question marks ahead of Trump's tariffs announcement later and there still will be after
market overview

The first quarter depicted in a single chart
The first quarter of 2025 has been defined by great uncertainty which weighed on markets, and consumer and business sentiment
market overview

Norges Bank to stand pat for the time being – Commerzbank
As we expected, Norges Bank left the policy rate unchanged last week. After all, the interest rate path from December did not necessarily imply an interest rate cut in March.
EURNOK
CentralBanks
Norway
Banks
USDNOK

EUR/USD rises as US Dollar drops ahead of Trump’s tariff announcement
EUR/USD rises to near 1.0820 during North American trading hours on Wednesday.
EURUSD
ECB
Fed
TradeWar
SEO

AUD/USD: Increase in momentum indicates AUD can continue to decline – UOB Group
Australian Dollar (AUD) is likely to trade in a 0.6250/0.6300 range vs US Dollar (USD). In the longer run, increase in momentum indicates AUD could continue to decline, but it is too early to determine if it can reach 0.6185, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
AUDUSD

GBP: Testing the relative safe-haven status – ING
The UK’s goods exports to the US are worth just below 2% of GDP compared to 3% for the eurozone. It is no massive difference, but the EU has been much more in the focus of Trump’s confrontational foreign approach, ING’s FX analysts Francesco Pesole notes.
Technical Analysis
EURGBP
Banks
GBPUSD

USD/JPY: Bias to sell rallies – OCBC
USD/JPY remains caught in a 2-way trade between safe haven demand and JPY being directly hit by reciprocal tariffs. Pair was last at 149.60, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Technical Analysis
USDJPY
Banks

USD: Tariff announcement at 10PM CET – ING
The market reaction to today’s 'liberation day' will depend on the size of tariffs, geographical/sectorial distribution, and openness to negotiation. The announcement is due at 4PM ET/10PM CET, ING’s FX analysts Francesco Pesole notes.
Technical Analysis
TradeWar
Banks
DollarIndex

Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data.
Silver
Commodities
Metals

ECB’s Rehn: Trade protectionism is a key risk to economic outlook
European Central Bank (ECB) policymaker Olli Rehn said on Wednesday, “trade protectionism is a key risk to economic outlook.”
ECB
EURUSD
CentralBanks
InterestRate

Lagarde speech: Tariffs aren't good for the global economy
European Central Bank (ECB) President Christine Lagarde warned on Wednesday, “tariffs aren't good for the global economy.”
ECB
EURUSD
CentralBanks
InterestRate

DXY: 2-way trades into event risk – OCBC
US Dollar (USD) held steady as markets await reciprocal tariff announcement on 2 Apr (4pm ET/4am SGT Thurs morning). There are reports to suggest that Trump’s team is still in the midst of finalising tariffs, with options ranging from reciprocal to tiered to universal tariffs.
Technical Analysis
Banks
DollarIndex

Gold price orbits around $3,120 awaiting Trump's reciprocal tariffs announcement
Gold price (XAU/USD) stabilizes above $3,120 at the time of writing on Wednesday with still the fresh all-time nearby, at $3,149. The Gold rush rally stalled ahead of United States (US) President Donald Trump officially announcing the reciprocal tariff
Gold
Commodities
UnitedStates
TradeWar
XAUUSD

ECB's Rehn: Trade protectionism is a key risk to economic outlook
Comments from ECB policymaker, Olli Rehn
EUR

ECB's Lagarde: Tariffs aren't good for the global economy
ECB President Christine Lagarde speaking
EUR

GBP/USD: Expected to trade in a sideways range of 1.2885/1.2945 – UOB Group
Pound Sterling (GBP) is expected to trade in a sideways range of 1.2885/1.2945 vs US Dollar (USD). In the longer run, current price movements are likely part of a range trading phase, expected to be between 1.2850 and 1.3050, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
GBPUSD

There's lots of focus on the NFP report but it might not matter at all
The data is by definition backward looking, it has value for the market when it changes expectations
market overview

Liberation Day – but at what price? – Commerzbank
The uncertainty that Trump's policy brings with it, through his many U-turns, his erratic statements and his cancellation of long-standing agreements and treaties.
Growth
UnitedStates
TradeWar
Banks

AUD/USD climbs to fresh weekly top, retakes 0.6300 ahead of Trump’s reciprocal tariffs
The AUD/USD pair attracts some follow-through buyers for the second consecutive day and recovers further from a nearly four-week low, around the 0.6220-0.6215 area touched on Monday.
AUDUSD
RBA
Fed
TradeWar
Currencies

EUR/USD: Current price movements are likely part of a range trading phase – UOB Group
Slight increase in downward momentum is likely to lead to a lower range of 1.0770/1.0820 instead of a sustained decline.
EURUSD
Technical Analysis
Banks

Big moves expected for the USDCAD pair on the tariffs announcement today
The "Liberation Day" has finally arrived and CAD traders are bracing for impact
CAD
USD

Major currencies see light changes as traders wait on Trump tariffs
The dollar is keeping steadier so far with only the antipodes holding a slight advance
USD

EUR: Room to price in more tariff risk – ING
EUR/USD has softened a bit into today’s tariff event, but price action suggests strong buying interest below 1.080, in another sign that markets aren’t ready to sink their teeth on a negative, tariff-led euro narrative, ING’s FX analysts Francesco Pesole notes.
EURUSD
Technical Analysis
Banks

Palladium price today: Rare metals mixed at the start of the European session
Platinum Group Metals (PGMs) trade mixed at the beginning of Wednesday, according to FXStreet data.
Platinum
Commodities
Palladium

Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session.
Oil
WTI
Commodities

What are the interest rates expectations ahead of the tariffs announcement
Let's see what the market is pricing for the major central banks ahead of the reciprocal tariffs announcement at 16:00 ET/20:00 GMT
market overview