Erste Bank Research Team
Erste Bank
The exact economic impact of US tariffs remains to be seen. The level of the tariffs on imports to the US announced by Donald Trump and already implemented came as a surprise to the financial markets, as did their global scope. The result was an abrupt initial revaluation in almost all asset classes.
A process has been triggered whose further course is difficult to predict. Uncertainty will therefore remain high, unless there is a U-turn in US trade policy, which we do not expect. Rather, the coming weeks and months should be characterised by a mixed news and data situation.
We do not expect any relief or a significant countermovement in the markets to the recent massive shifts as long as irritations remain a possibility, leading to erratic and even escalatory action. In our view, the uncertainty that has arisen, which has led to comparable highs in volatility with the financial crisis and pandemic, will only slowly subside in the financial markets.
This document is intended as an additional information source, aimed towards our customers. It is based on the best resources available to the authors at press time. The information and data sources utilised are deemed reliable, however, Erste Bank Sparkassen (CR) and affiliates do not take any responsibility for accuracy nor completeness of the information contained herein. This document is neither an offer nor an invitation to buy or sell any securities.
Recommended Content
Editors’ Picks
AUD/USD Price Forecast: Revisits monthly high around 0.6390 Premium
AUD/USD advances to near 0.6390 despite the escalating trade war between the US and China. US President Trump announced a 90-day pause on reciprocal tariffs for all of his trading partners, except China. Trump’s tariff agenda has kept the US Dollar on the backfoot.
EUR/USD remains offered and below 1.1300
EUR/USD is feeling the squeeze, revisiting the area around 1.1280 as the US Dollar gains extra momentum on Tuesday. Mixed domestic data from Industrial Production and Economic Sentiment haven't done the Euro any favours either.
Gold embarks on a consolidative move around $3,200
Gold is holding its own on Tuesday, trading just above $3,200 per troy ounce as it bounces back from earlier losses. While a more upbeat risk sentiment is bolstering the rebound, lingering concerns over a deepening global trade rift have prevented XAU/USD from rallying too aggressively.
XRP, Dogecoin and Mantra traders punished for bullish bets, will altcoins recover?
Altcoins are recovering on Tuesday as the dust settles on US President Donald Trump’s tariff announcements last week. The President has repeatedly changed his mind on several tariff-related concerns, ushering volatility in Bitcoin and altcoin prices.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.