Global financial markets have been rocked by heightened volatility following President Trump's unexpected announcement of steep global tariffs, sparking fears of a US recession and driving a sharp decline in Treasury yields and the US dollar. 

 

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Gold is holding steady near the $3,250 mark, fuelled by robust safe-haven demand, trade war concerns, and a softer-than-expected US inflation gauge. The US Dollar keeps trading with heavy losses around three-year lows.

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EUR/USD retreats towards 1.1300 as Wall Street shrugs off trade war headlines

EUR/USD retreats towards 1.1300 as Wall Street shrugs off trade war headlines

The EUR/USD pair retreated further from its recent multi-month peak at 1.1473 and trades around the 1.1300 mark. Wall Street manages to advance ahead of the weekly close, despite escalating tensions between Washington and Beijing and mounting fears of a US recession. Profit-taking ahead of the close also weighs on the pair. 

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GBP/USD trims gains, recedes to the 1.3050 zone

GBP/USD trims gains, recedes to the 1.3050 zone

GBP/USD now gives away part of the earlier advance to fresh highs near 1.3150. Meanwhile, the US Dollar remains offered amid escalating China-US trade tensions, recession fears in the US, and softer-than-expected US Producer Price data.

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Bitcoin, Ethereum, Dogecoin and Cardano stabilize on Friday as crypto market capitalization steadies around $2.69 trillion. Crypto traders are recovering from the swing in token prices and the Monday bloodbath. 

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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.

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