CAD/CHF Exchange rate

EUR/USD clings to modest daily gains above 1.0800 on Wednesday as investors refrain from taking large positions ahead of US President Donald Trump's tariff announcements. Meanwhile, the data from the US showed that employment in the private sector rose by 155K in March.

GBP/USD holds its ground and trades in positive territory near 1.2950 as the US Dollar fails to benefit from the upbeat employment data. Traders remain reluctant to place fresh bets on the major, anticipating the US 'reciprocal tariffs' announcement on "Liberation Day' at 20:00 GMT. 

Gold regains its traction and rises above $3,120 after correcting from the record-high it set near $3,150 on Tuesday. Retreating US Treasury bond yields support XAU/USD before US President Donald Trump officially announces the reciprocal tariff implementation at the White House later this Wednesday.

The global trading system is about to be upended, but to what extent? Will markets have clarity or is it merely another phase in ongoing trade wars? Some answers are due on Wednesday at 20:00 GMT. Here is preview of the five critical things to watch.

Leading economists say a recession is more likely than originally expected. With new tariffs set to be launched on April 2, investors and economists are growing more concerned about an economic slowdown or recession.