US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
U.S.-Indonesia Trade Deal Faces Uncertainty as Jakarta Reconsiders Key Commitments 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
The U.S. dollar held steady on Wednesday but is set for its worst monthly decline since November 2022, falling sharply amid rising global uncertainty over President Donald Trump’s volatile trade policies. Retreats from initial sweeping tariff plans have rattled investor confidence, driving capital flows into traditionally safer currencies such as the euro, yen, and Swiss franc.
Trump’s administration softened auto tariffs this week by offering credits and easing levies on raw materials. Additionally, it touted a trade agreement with an unnamed partner, with Treasury Secretary Scott Bessent hinting at pending deals with India and South Korea. Despite these efforts, fears persist that tariffs will hurt U.S. growth, increase inflation, and spike unemployment.
The euro traded at $1.1387, up 5.26% in April—its best month since November 2022. The Swiss franc rose over 7% this month, marking its strongest performance in a decade, while the yen gained more than 5% as investors await Thursday’s Bank of Japan policy meeting.
Markets remain on edge following weak U.S. economic indicators. Job openings fell sharply in March, and consumer confidence dropped to a five-year low in April. The U.S. trade deficit also hit a record, and major corporations like UPS and General Motors have issued negative outlooks, citing rising costs.
Analysts at ING warn that front-loaded imports to avoid tariffs could drag Q1 GDP. Economist David Kohl of Julius Baer expects the Fed to hold rates steady for now but predicts two 50-basis-point cuts in July and September if labor market weakness emerges.
The dollar index hovered near a three-year low at 99.219, down 4.76% in April. Meanwhile, sterling, the Australian dollar, and the New Zealand dollar posted monthly gains of 3.8%, 2%, and 4.4%, respectively.
