Live Coverage: Trump announces “Liberation Day” tariffs, Stocks, Gold, US Dollar to rock

Yohay Elam FXStreet

Upending the global trading system – these are some of the descriptions attached to President Donald Trump's upcoming announcement of tariffs. The magnitude and scope of these levies is unknown, and markets are set to rock.

Click here to join the live coverage on Discord

Join FXStreet Premium to ask our analysts questions live, read exclusive, actionable analysis, and get Gold and signal alerts.

Upending the global trading system

The globalized world depends on the flows of goods – and their components – across borders. US President Donald Trump plans to announce significant tariffs on goods, aiming to revive America's manufacturing sector.

Companies are unaware of the plans and will have little time to prepare – the duties are set come into effect immediately. The Federal Reserve (Fed) will have to judge if the new policies mean higher inflation and an elevated path of interest rates, or the opposite – a recession that results in higher unemployment and lower rate cuts.

The White House timed the decision to 16:00 Eastern / 20:00 GMT, just as cash trading ends in the US. Futures markets, Gold, and currencies are set to swing.

Live financial market coverage

FXStreet covers major economic releases in a live blog format, to provide readers an instant verdict of the data, rapid analysis of key assets, and, for Premium members, the ability to ask our experts questions in real time.

FXStreet Premium

FXStreet Premium provides subscribers access to analysts, exclusive actionable analysis, signals, Ed Ponsi's webinars, trade plans, and a bullish/bearish indicator for Gold on critical events. Join FXStreet Premium here.

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.