ForexLive European FX news wrap: Dollar steady, markets wait on more trade developments

Headlines:

Markets:

• JPY leads, CHF lags on the day
• European equities greater; S&P 500 futures down 0.1%
• US 10-year yields up 1.4 bps to 4.28%
• Gold down 0.8% to $3,293.02
• WTI crude down 0.5% to $62.72
• Bitcoin up 1.8% to $95,458

Amid a scarcity of developments within the tariffs/commerce conflict, markets are struggling for a lot course to begin the brand new week.

The greenback is conserving steadier whereas the general danger temper is extra tentative in the meanwhile. Over the weekend, Trump stored his concentrate on the Russia-Ukraine battle so that’s not giving a lot for broader markets to work with.

The dollar is seeing gentle modifications within the FX house however remains to be on monitor for a really poor displaying for the entire month of April. USD/JPY might need caught a bounce from 140.00 final week however remains to be poised to finish the month over 4% decrease. In the meantime, EUR/USD remains to be up over 5% on the month even after backing away from 1.1500 to 1.1340 ranges now.

USD/CHF might need additionally caught an honest bounce again to simply above 0.8300 now however is down slightly over 6% in April buying and selling so far.

For at present, the modifications will not be amounting to a lot as the general danger temper can be extra tentative.

US futures are down barely as we await extra commerce headlines from Trump probably to see what to make of issues. For now, China continues to disclaim any contact in any way with the US camp and they’re additionally ensuring the world is aware of that there isn’t a telephone name between Trump and Xi on tariffs.

In different markets, gold is down barely once more at present and conserving beneath $3,300 in a little bit of a short-term consolidation section. And as for Treasuries, we’re seeing a calmer tone however yields are nonetheless a lot greater for the reason that starting of the reciprocal tariffs announcement initially of this month.

Seeking to the week forward, there’s going to be a lot to concentrate on with month-end flows in consideration, key tech earnings (Microsoft, Meta, Apple, Amazon), in addition to the US jobs report on Friday. All of that to combine with extra Trump headlines certainly.