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AUD/USD drifts lower toward 0.6300; looks to US NFP for fresh impetus
AUD/USD heads toward 0.6300 early Friday, resuming the pullback from near 0.6400. The pair remains on a slippery slope despite a weaker US Dollar. US-China trade tensions and increased odds of Trump's tariffs-led global recession undermine the risk-sensitive Aussie. All eyes on US NFP and Powell.
USD/JPY recovers slightly from multi-month low; upside seems limited ahead of US NFP
USD/JPY attracts some buyers during the Asian session on Friday and moves away from its lowest level since October set the previous day. Investors scale back their expectations that the BoJ would raise policy rate at a faster pace amid worries that Trump's new tariffs could negatively impact Japan's economy, which is seen weighing on the JPY.
Gold holds positive ground above $3,100, all eyes on US NFP data
Gold price recovers some lost ground to near $3,115 during the Asian session on Thursday after facing some profit-taking in the previous session. Escalating concerns over a global trade war and ongoing geopolitical risks boost the Gold price, a traditional safe-haven asset.
What to expect from Bitcoin and XRP following Trump tariffs: Experts weigh in
Bitcoin stretched its decline on Thursday, briefly dropping below $83,000 as President Trump's newly announced reciprocal tariffs extended the crypto market downturn by over 4%. The sustained decline and high volatility highlight Bitcoin's increasing risk to macroeconomic uncertainties.
DEEPER DIVE
Is light dawning for the Eurodollar? BRANDED
Economists have been predicting that President Trump’s new import tariffs could prompt the euro to fall to parity with the US dollar this year. The European Union’s (EUs) recent policy shift in favour of defence spending, however, renewed some belief in their economy and currency.
Brexit revisited: Why closer UK-EU ties won’t lessen Britain’s squeezed public finances
The UK government desperately needs higher economic growth as it grapples with spending cuts and potential tax rises later this year. A reset of UK-EU economic ties would help, and sweeping changes are becoming more likely.
The challenge of inflation: Five things to look out for
Inflation is no longer the No. 1 economic problem that it has been for the past three years, but it remains a major challenge. While it has not reached its 2% target yet, and the last pockets are slowly deflating, new inflationary pressures are mounting.
CRYPTOCURRENCIES
XRP Price Prediction: Bearish technicals, on-chain indicators signal 68% potential crash
XRP faces increasing bearish sentiment from macro, micro and fundamental factors in April. Weak on-chain indicators ranging from network growth, total supply and active addresses reinforce an impending crash.
Bitcoin Price Forecast: Tariff volatility sweeps over $200 billion from crypto markets
Bitcoin price hovers around $83,000 on Thursday after it failed to close above the $85,000 resistance level the previous day. Volatility fueled by Trump’s tariffs swept $200 billion from total market capitalization, liquidating over $178 million in BTC.
SOL is the winner as Solana chain turns into battleground for meme coin launchpad and DEX
Solana (SOL) gains nearly 2% in the last 24 hours and trades at 118.28 at the time of writing on Thursday. A Decentralized Exchange (DEX) and a meme coin launchpad built on the Solana blockchain have waged a war for users and compete for the trade volume on the chain.
STOCKS
Tesla stock recovers, then rallies despite Q1 delivery 'disaster' Premium
Tesla (TSLA) stock is having a bipolar day in the markets on Wednesday. First, shares of the US electric vehicle (EV) leader got trounced on news that deliveries in the first quarter hit their lowest level in three years.
Trump lays out his reciprocal tariffs on all countries, as stocks remain spooked
President Trump announced his reciprocal tariff rates. The baseline tariff rate is 10%, with rates varying for each country depending on how they levy tariffs on US imports.
WEEKLY FORECAST
EUR/USD: US Dollar to fall further despite ruling uncertainty Premium
The EUR/USD pair remained under selling pressure for a second consecutive week but ended it little changed at around 1.0820. The US Dollar (USD) remained trapped between tariff-related concerns and tepid US data, limiting its safe-haven condition.
GBP/USD: Pound Sterling braces for Trump’s tariff wave Premium
The Pound Sterling consolidated its correction from four-month highs against the US Dollar. President Trump’s tariffs and US Nonfarm Payrolls to offer fresh impetus to the GBP/USD pair. The GBP/USD’s bullish bias remains intact, as indicated by the daily technical setup.
US Dollar: Tariffs, jobs, and US economic jives Premium
A poor second half of the week left the US Dollar (USD) empty-handed, reversing the previous week’s advance despite hitting new three-week tops well north of the 104.00 barrier in the last couple of days, when measured by the US Dollar Index (DXY).
Gold: Trade war fears lift Gold to new record high Premium
Gold gathered bullish momentum and surged to a new record high above $3,080 on Friday after struggling to find direction at the beginning of the week. The unveiling of the US reciprocal tariffs and key macroeconomic data releases from the US could drive Gold’s valuation in the near term.
Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.
Week ahead – US NFP and Eurozone CPI awaited as tariff war heats up, RBA meets
Trump’s reciprocal tariffs could spur more chaos. US jobs report might show DOGE impact on labour market. Eurozone inflation will be vital for ECB bets as April cut uncertain. RBA to likely hold rates; Canadian jobs, BoJ Tankan survey also on tap.
