Market Roundup
•US Export Price Index (MoM) (Mar) 0.0%, 0.1% forecast, 0.5% previous
•US Export Price Index (YoY) (Mar) 2.4%, 2.1% previous
•US Import Price Index (YoY) (Mar) 0.9%, 2.0% previous
•US Import Price Index (MoM) (Mar) -0.1%, 0.1% forecast, 0.2% previous
•US NY Empire State Manufacturing Index (Apr) -8.10, -12.80 previous, -20.00 forecast
•Canada Common CPI (YoY) (Mar) 2.3%, 2.5% forecast, 2.5% previous
•Canada Core CPI (MoM) (Mar) 0.1%, 0.7% previous
•Canada Core CPI (YoY) (Mar) 2.2%, 2.7% previous
•Canada CPI (MoM) (Mar) 0.3%, 0.7% forecast, 1.1% previous
•Canada CPI (YoY) (Mar) 2.3%, 2.6% forecast, 2.6% previous
•Canada Manufacturing Sales (MoM) (Feb) 0.2%, -0.3% forecast, 1.6% previous
•Canada Median CPI (YoY) (Mar) 2.9%, 2.9% previous
•Canada Trimmed CPI (YoY) (Mar) 2.8%, 3.0% forecast, 2.9% previous
•US Redbook (YoY) 6.6%, 7.2% previous
Looking Ahead Economic Data(GMT)
•02:00 China Fixed Asset Investment (YoY) (Mar) 4.1% forecast, 4.1% previous
•02:00 China GDP (YoY) (Q1) 5.2%, 5.4% previous
•02:00 China GDP (QoQ) (Q1) 1.4%, 1.6% previous
•02:00 China Chinese GDP YTD (YoY) (Q1) 5.0% previous
•02:00 China Industrial Production (YoY) (Mar) 5.9% forecast, 5.9% previous
•02:00 China Chinese Industrial Production YTD (YoY) (Mar) 5.9% previous
•02:00 China Retail Sales (YoY) (Mar) 4.2%, 4.0% previous
•02:00 China Chinese Retail Sales YTD (YoY) (Mar) 2.98% previous
•02:00 China Chinese Unemployment Rate (Mar) 5.3% forecast, 5.4% previous
Looking Ahead Events And other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro traded near a three-year high on Tuesday as investors remained wary of U.S. assets amid ongoing uncertainty around President Donald Trump’s shifting tariff policies. Markets took temporary relief from the weekend’s exemption of smartphones and electronics from China tariffs, but Trump’s signals suggest it may be short-lived. His inconsistent messaging has fueled global investor and policymaker uncertainty. Although sentiment stabilized slightly on Tuesday, analysts believe any dollar recovery could be brief. All eyes now turn to Thursday’s European Central Bank meeting, where a 25-basis-point rate cut is widely expected. Immediate resistance can be seen at 1.1388(38.2%fib), an upside break can trigger rise towards 1.1520(23.6%fib).On the downside, immediate support is seen at 1.1388(50%fib), a break below could take the pair towards 1.1141(61.8%fib).
GBP/USD: The British pound strengthened against the U.S. dollar on Tuesday as risk sentiment improved after U.S. President Donald Trump hinted he might grant exemptions on auto-related tariffs.Overnight, Trump indicated he was considering modifying the 25% tariffs on foreign auto and auto parts imports.Investors welcomed temporary tariff exemptions for certain sectors, hoping that punitive levies could be reduced after recent market volatility.On the macro front, data on Tuesday showed Britain's labour market showed signs of weakening in the run-up to this month's increase in a tax on employers.The British pound was trading higher at 1.3250 against US dollar. Immediate resistance can be seen at 1.3259(Daily high), an upside break can trigger rise towards 1.3315(23.6%fib).On the downside, immediate support is seen at 1.3113(38.2%fib), a break below could take the pair towards 1.3055(April 14th low).
USD/CAD: The Canadian dollar slipped on Tuesday as a stronger U.S. dollar and softer-than-expected inflation data fueled expectations of further rate cuts by the Bank of Canada later this year. Canada’s annual inflation rate eased to 2.3% in March from 2.6% in February, below analyst expectations, driven by falling gasoline and travel costs. Meanwhile, separate data showed a decline in home sales and prices, as concerns over U.S. tariffs and potential economic fallout weighed on the housing market. The loonie was trading 0.7% lower at 1.3975 per U.S. dollar, extending its pullback from a five-month high at 1.3827 during Monday's session. Immediate resistance can be seen at 1.4000(Psychological level), an upside break can trigger rise towards 1.4104 (50%fib).On the downside, immediate support is seen at 1.3855(23.6%fib), a break below could take the pair towards 1.3777 (Lower BB)
USD/JPY: The dollar dipped against the Japanese yen on Tuesday as investors remained cautious amid the ongoing uncertainty over U.S. tariff policies. Japan, a long-standing U.S. ally, faces a 24% tariff on its exports to the U.S., though most of these duties have been paused for 90 days under Trump's reciprocal tariff strategy. However, a 10% universal tariff and a 25% duty on automobiles remain in place, with cars making up around 28% of Japan's exports to its largest trade partner.As Japan prepares for trade negotiations with the U.S. this week, currency policy is expected to be a central issue. Some Japanese officials anticipate U.S. pressure on Tokyo to support the yen. Finance Minister Katsunobu Kato stressed that both countries agree markets should set exchange rates and warned that excessive, volatile currency movements could harm economic and financial stability. Immediate resistance can be seen at 143.59 (Daily high) an upside break can trigger rise towards 144.00(Psychological level) On the downside, immediate support is seen at 142.63 (23.6%fib) a break below could take the pair towards 142.00(Psychological level).
Equities Recap
European stocks climbed on Tuesday as investors navigated shifting U.S. tariff developments. However, luxury giant LVMH weighed on sentiment, falling after it missed Q1 sales expectations, citing sluggish demand in the U.S. and China.
UK's benchmark FTSE 100 closed up by 1.41 percent, Germany's Dax ended up by 1.43 percent, France’s CAC finished the day up by 0.86 percent.
U.S. stocks closed slightly lower on Tuesday amid ongoing tariff uncertainty, which weighed on consumer and healthcare sectors. However, strong earnings from major banks helped limit broader market losses.
Dow Jones closed down by 0.38%percent, S&P 500 closed down by 0.17% percent, Nasdaq settled down by 0.05% percent.
Commodities Recap
Gold prices gained on Tuesday, helped by safe-haven demand as U.S. President Donald Trump's uncertain tariff plans kept investors on edge, while an overall weaker dollar also lent support.
Spot gold was up 0.6% at $3,230.18 an ounce as of 1:47 p.m. ET (1747 GMT). Bullion hit a record high of $3,245.42 on Monday.
