Frank Walbaum
FX Strategies.Asia
Important news for the day
- 26th, 01:30 CET AU Consumer price index.
- 26th, 08:00 CET UK Consumer price index.
US security breach
In the United States, a chat to which an American journalist was apparently added by mistake continues to cause heated debate. It was about retaliatory attacks on the Huthi rebels in Yemen. Trump adviser Mike Waltz has now taken responsibility for this and considers the matter to be closed. President Trump has now backed his colleague, and there will now be a hearing on this in the Intelligence Committee. At present, the situation could be one reason why oil prices are rising again.
Market talk
Yesterday, stock markets continued moving to the upside and the way in the S&P 500 index continues to look positive. Based on the daily chart the price could reach the price level at 5,850. This is where the 50- moving average might come into play acting as a resistance area. The Nasdaq currently paints a similar picture, whereas the German DAX shows signs of some weakness. After the positive momentum yesterday the market could be poised to fall. A break of the zone at 22,850 might ignite further downside momentum.
Tendencies in the markets
- Equities positive, USD stronger, cryptos positive, oil higher, Silver positive, Gold positive, JPY stronger.
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Gold trades near record-high, stays within a touching distance of $3,100
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EUR/USD turns positive above 1.0800
The loss of momentum in the US Dollar allows some recovery in the risk-associated universe on Friday, encouraging EUR/USD to regain the 1.0800 barrier and beyond, or daily tops.
GBP/USD picks up pace and retests 1.2960
GBP/USD now capitalises on the Greenback's knee-jerk and advances to the area of daily peaks in the 1.2960-1.2970 band, helped at the same time by auspicious results from UK Retail Sales.
Donald Trump’s tariff policies set to increase market uncertainty and risk-off sentiment
US President Donald Trump’s tariff policies are expected to escalate market uncertainty and risk-off sentiment, with the Kobeissi Letter’s post on X this week cautioning that while markets may view the April 2 tariffs as the "end of uncertainty," it anticipates increased volatility.
US: Trump's 'Liberation day' – What to expect?
Trump has so far enacted tariff changes that have lifted the trade-weighted average tariff rate on all US imports by around 5.5-6.0%-points. While re-rerouting of trade will decrease the effectiveness of tariffs over time, the current level is already close to the highest since the second world war.
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