Donald Trump’s trade war with Colombia, disappointing economic data from China, and growing doubts over the Russia-Ukraine peace talks added to global uncertainty.
The Bank of Japan’s (BoJ) rate hike added to the market’s risk-on sentiment, contributing to the decline of the US Dollar Index (DXY) for a second consecutive day.
On his third day as US President, Trump took to X (formerly Twitter) to reaffirm his tough stance on trade tariffs and global issues while pushing for more infrastructure investment.
The lack of major tariff updates from US President Donald Trump put pressure on US Dollar bulls, despite tough rhetoric against Europe, China, Canada, and Mexico.
After a volatile Monday driven by Trump’s inauguration updates, traders await more clarity on his next steps, particularly on trade policies.
Risk FX improved early Monday, supported by the likely absence of concerns over Trump's tariff shots in his first 100 executive orders and a US holiday.
Markets are uncertain early Friday, despite positive data from China on Retail Sales and GDP growth.
Market sentiment is cautiously positive today, boosted by weaker-than-expected US Core CPI and a downbeat NY Empire State Manufacturing Index.
Strong US jobs and inflation data, along with China’s efforts to stabilize the Yuan, roiled the market sentiment and pushed the US Dollar higher.
Markets are subdued early Friday before the US jobs report, with concerns over China’s economy and global tensions.
AUDUSD continues to decline, pressured by US Dollar strength and negative market sentiment, as weak Australian data fails to support buyers.
The US Dollar rose following strong US ISM Services PMI and JOLTS Job Openings data, along with a risk-off sentiment.
Market sentiment remains uncertain despite gains in risky assets, driven by softer US data, reduced fears of Trump tariffs, and hopes for Chinese stimulus.
