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WTI tanks almost 8% as Trump tariffs stoke global economic risks
West Texas Intermediate (WTI), futures on NYMEX, continues to face a bloodbath as the announcement of reciprocal tariffs by United States (US) President Donald Trump has prompted global economic risks.
Oil
WTI
UnitedStates
China
Macroeconomics
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Fxstreet
USD/CAD gains further to near 1.4240 after US/Canada employment data
The USD/CAD pair extends its upside to near 1.4240 during North American trading hours on Friday. The Loonie pair strengthens as the Canadian Dollar (CAD) falls further after the release of the downbeat employment data for March.
USDCAD
BOC
Employment
TradeWar
UnitedStates
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Fxstreet
OPEC+ increases oil production unexpectedly significantly in May – Commerzbank
The eight OPEC+ countries with voluntary production cuts surprisingly announced yesterday that they would increase production by 411 thousand barrels per day in May.
OPEC
Oil
Energy
Banks
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Fxstreet
GBP losses steady around 1.30 – Scotiabank
Pound Sterling (GBP) is weak, down a meaningful 0.8% vs. the USD while still trading relatively well vs.
GBPUSD
Technical Analysis
Banks
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Fxstreet
EUR/USD consolidates around 1.10 – Scotiabank
Euro (EUR) is soft, down 0.4% vs. the US Dollar (USD) and trading back around the 1.10 level with a modest fade of Thursday’s impressive rally, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EURUSD
Technical Analysis
Banks
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Kazakh oil production at record level also in March – Commerzbank
Kazakhstan's oil production is said to have risen to a new record level in March, Reuters reported, citing informed sources, Commerzbank's commodity analyst Carsten Fritsch notes.
Oil
Energy
Commodities
Banks
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Fxstreet
CAD gives up some gains on weak risk mood – Scotiabank
The Canadian Dollar (CAD) is softer, losing ground against a generally stronger USD, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Canada
BOC
USDCAD
Banks
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Forex Live
Trump: China played it wrong, they panicked -- the one thing they cannot afford to do
China put additional 34% tariffs on all US imports today
Politics
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Fxstreet
Oil prices under pressure after US tariff announcement – Commerzbank
Oil prices came under significant pressure following US President Trump's tariff announcements, Commerzbank's commodity analyst Carsten Fritsch notes.
Oil
Energy
Commodities
Banks
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Fxstreet
USD recovers but sentiment remains weak – Scotiabank
The impact of this week’s US tariff announcement continues to reverberate around global markets. Stocks continue to weaken, havens – bonds – remain strongly bid.
Technical Analysis
Banks
DollarIndex
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Fxstreet
Canada Unemployment Rate edged higher to 6.7% in March
The Unemployment Rate in Canada edged higher to 6.7% in March from 6.6% in February, Statistics Canada reported on Friday. This reading came in line with the market expectation.
Canada
Employment
EconomicIndicator
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Forex Live
Trump writes that "my policies will never change"
Presumably he is talking about tariffs
USD
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Fxstreet
AUD/USD nosedives to near 0.6050 as RBA dovish bets swell dramatically
The AUD/USD pair tanks more than 3.5% below 0.6100 during early North American trading hours on Friday.
AUDUSD
NFP
RBA
TradeWar
China
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Forex Live
Canada March employment change -32.6K versus 10.0K estimate
Canada jobs report for March 2025
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Forex Live
US March non-farm payrolls +228K vs +135K expected
The US jobs report for March 2025
USD
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Forex Live
Locked and loaded for the March edition of non-farm payrolls
We're on the knife edge
USD
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Fxstreet
Silver price under massive pressure – Commerzbank
The Silver price even slumped by more than 6% at times yesterday and slipped further today to USD 31.2 per troy ounce, Commerzbank's commodity analyst Carsten Fritsch notes.
Silver
Commodities
Banks
XAGUSD
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Fxstreet
Gold price initially rises to record high and then falls sharply – Commerzbank
The Gold price initially rose to a new record high of $3,168 per troy ounce in response to US President Trump's tariff announcements, but then fell back significantly, Commerzbank's commodity analyst Carsten Fritsch notes.
XAUUSD
Metals
Gold
Commodities
Banks
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Forex Live
ForexLive European FX news wrap: China counter-tariffs amplify market rout
Forex news from the European morning session on Apr 4, 2025
Session wrap
Wrap Europe
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Fxstreet
USD/CNH: Set to weaken to 7.2430 before stabilisation can be expected – UOB Group
Scope for US Dollar (USD) to weaken to 7.2430 before stabilisation can be expected vs Chinese Yuan (CNH); it is unclear if 7.2150 will come into view.
Technical Analysis
USDCNH
Banks
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Fxstreet
China Finance Ministry: Will impose additional 34% tariffs on all US goods from April 10
China's Finance Ministry announced on Friday that they will impose additional tariffs of 34% on all US imports from April 10 in response to US President Donald Trump's latest tariff announcements, per Reuters.
China
TradeWar
Politics
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Brent: Next objectives are located at $65.50/64.70 and $63 – Societe Generale
Brent has pulled back after facing strong resistance around the 200-DMA ($76) recently, Societe Generale's FX analysts report.
Oil
Energy
Brent
Banks
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USD/JPY: Below 145.00, further decline is likely – UOB Group
US Dollar (USD) is likely to trade in a 145.20/147.50 range vs Japanese Yen (JPY). In the longer run, too early to expect weakness to stabilise, but USD must break and hold below 145.00 before further decline is likely, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
USDJPY
Banks
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Fxstreet
EUR/GBP: Above 0.8510/0.8530, a larger upside is likely – Societe Generale
EUR/GBP has crossed above the 200-DMA resulting in a steep up move, Societe Generale's FX analysts report.
Technical Analysis
EURGBP
Banks
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Forex Live
Risk-off flows intensify ahead of US trading
It's carnage out there but can you imagine if we get a bad set of numbers from the US jobs report to add to it?
market overview
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Fxstreet
NZD/USD must close above 0.5850 for further sustained rise – UOB Group
New Zealand Dollar (NZD) is likely to trade in a range between 0.5720 and 0.5850 vs US Dollar (USD). In the longer run, for further sustained rise, NZD must close above 0.5850, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
NZDUSD
Technical Analysis
Banks
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Forex Live
AUD hit the hardest amid the risk-off flows
The Australian Dollar is down 2.9% against the US Dollar, 3.4% against the Japanese Yen and 3.8% against the CHF as China's retaliation news weighed on the AUD the most
AUD
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Copper slumps as tariffs threaten global growth outlook – ING
Copper and other industrial metals slumped on Thursday amid concerns about how Trump’s latest tariffs threaten the global growth outlook, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
Metals
Gold
Copper
Banks
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Fxstreet
US Dollar pares back some losses for this week
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, rallied after some strong Nonfarm Payrolls numbers while markets look ahead for Federal Reserve (Fed) Chair Jerome Powell’s speech up next.
TradeWar
UnitedStates
SEO
Macroeconomics
DollarIndex
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Fxstreet
AUD/USD: Above 0.6410, further advances can be expected – UOB Group
Instead of continuing to rise, AUD is more likely to trade in a 0.6260/0.6360 range. In the longer run, AUD must break and hold above the significant resistance at 0.6410 before further advances can be expected, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
AUDUSD
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Traders are now pricing more than 50% chance of a fifth cut by year-end
After China's news, traders increased the rate cuts expectations to 116 bps by year end
market overview
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Forex Live
S&P 500 breaks below a key level following China's retaliation. August low in sight.
China decided to retaliate with additional 34% tariffs on all US goods starting on April 10
S&P Futures
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Fxstreet
USD/CAD Price Forecast: Bounces back from 200-day EMA
The USD/CAD pair rebounds to near 1.4160 during European trading hours on Friday from an almost four-month low of 1.4026 posted on Thursday.
TradeWar
Fed
USDCAD
Employment
DollarIndex
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Forex Live
Gold picks itself back up as the trade war rhetoric escalates
Gold has pared all losses on the day after being down by 1% earlier
Gold
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Forex Live
A bloodbath in the equities space as China response sparks intense selling
China's response is not only negative for the US but it is also impacting the global outlook
market overview
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Forex Live
Risk sentiment takes another blow as China responds with counter-tariffs
China hits back with additional 34% tariffs on all US goods starting from 10 April
market overview
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Forex Live
China announces tariffs of 34% on all US goods in retaliation
The tariffs will go into effect on 10 April
CNY
USD
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Fxstreet
Oil: OPEC+ shock supply increase – ING
Oil prices took a big hit yesterday as a barrage of new tariffs raised concerns over global growth and the outlook for oil demand. ICE Brent settled more than 6.4% lower on the day – the largest sell-off since August 2022, ING's commodity experts Ewa Manthey and Warren Patterson note.
Oil
OPEC
Energy
Commodities
Banks
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Fxstreet
GBP: Liquidity issues & BoE repricing at play – ING
Over recent months, EUR/GBP has tended to sell off on tariff-related headlines, given that the eurozone is far more exposed to US trade than the UK. Yet EUR/GBP surprised yesterday and spiked higher, ING's FX analyst Chris Turner notes.
EURGBP
Technical Analysis
Banks
GBPUSD
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