-
Wall Street closed in the green yesterday on the back of signs of de-escalation in the trade war (Nasdaq: +2.5%, S&P500: +1.7%, DJIA: +1.1%, Russell 2000: +1.5%).
-
Gains slowed toward the end of the session as enthusiasm was dampened by comments from the Republican administration. Treasury Secretary S. Bessent stated that “preparing a full trade agreement with China may take 2-3 years.”
-
According to Donald Trump, the U.S. “doesn't need more cars from Canada,” and the existing 25% tariffs may be increased. At the same time, the President announced on social media that he is “working on a deal with Canada.”
-
IBM's (IBM.US) Q1 sales increased 1% YoY to $14.5 bn, exceeding estiamtes. The company maintained its full-year forecasts (5% revenue growth), but the stock fell almost 7% in after-hours trading due to tariffs and federal cost cuts concerns.
-
Mixed communication from the White House on tariffs is weighing on sentiment in the Asia-Pacific region. The biggest loser is the Chinese HSCEI (-1.3%), followed by the Shanghai SE Composite (-0.1%) and South Korea’s Kospi (-0.15%). On the other hand, Japan’s Nikkei 225 (+0.47%) and Australia’s S&P/ASX 200 (+0.75%) are in the green.
-
Gains in Tokyo are being supported by Bessent's comment yesterday that the yen's exchange rate is not part of the trade negotiations with Japan. In previous years, Trump criticized Japan’s “competitive advantage” due to a weak yen during the negative interest rate period.
-
Automakers (Toyota: +3.2%) and Nintendo (+5.15%) are seeing the biggest gains, after Nintendo received a record 2.2 million lottery entries in Japan for the opportunity to purchase the upcoming Switch 2 console.
-
Japan’s PPI fell in March to 3.1% (forecast: 3%, previous: 3.2% revised from 3%).
-
Consumer sentiment in New Zealand rose 5.5% year-on-year in April (previously: -3.5% YoY).
-
On the forex market, the biggest gainers are the Japanese yen (USDJPY: -0.48%), Swiss franc (USDCHF: -0.3%), and the euro (EURUSD: +0.25% to 1.1343). The Canadian dollar is also gaining despite hints of higher car tariffs (USDCAD: -0.1%). The Australian dollar is the only G10 currency losing against the dollar (AUDUSD: -0.1%).
-
Gold is quickly recovering from two days of losses (+1.1% to $3,325 per ounce), while silver is down 0.4% to $33.44 per ounce.
-
Brent and WTI oil are stagnant after yesterday’s sell-off, gaining a symbolic 0.15%. NATGAS is down nearly 1%.
-
Major cryptocurrencies are undergoing a correction: Bitcoin is down 1.05% to $99,696, and Ethereum is down 1.4% to $1,770. Token futures for Trump (-16%), Chainlink (-3%), Dogecoin (-2.5%), Solana (-1.6%), and Ripple (-1.5%) are also losing ground.
-
The key data to watch today include Germany's Ifo index, U.S. durable goods orders, and U.S. jobless claims.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
