Daily summary: Wall Street recovers on Ukraine updates, EURUSD rallies 1%, crypto optimism (11.03.2025)

20:01 11 March 2025
  • American indices started Tuesday’s trading session with declines, but most of the losses were erased after the U.S. State Department and the President of Ukraine announced a proposal for a 30-days ceasefire and an agreement on rare earth metals.

  • Nasdaq is currently up 1.05%, S&P500 is trading flat, DJIA losses (-0,5%) and Russell 2000 adds 0,75%. The VIX index, which initially surged over 5%, is now down 2.7%.

  • Apple (AAPL.US) is leading losses among Magnificent 7 stocks, currently down 2.6%, as shares face pressure due to regulatory concerns and delays in implementing Apple Intelligence AI.

  • European markets remain in the red for another day. The Swiss SMI index saw the biggest decline, dropping nearly 2.5%. The German DAX fell by approximately 1.3%, the French CAC40 lost 1.3%, and the UK’s FTSE 100 dropped around 1.2%. Interestingly, the Polish market showed relative resilience, with the WIG20 index declining only 0.2%, despite opening the session with gains.

  • EURUSD extends gains by 1%, while USDCAD rises 0.25%. The strongest G10 currency is the Swedish krona (SEK), which has appreciated by 1.45% against the USD.

  • Donald Trump has directed the Secretary of Commerce to impose additional tariffs of 25% to 50% on all steel and aluminum imported from Canada to the U.S. The dollar strengthened following this announcement. The new tariffs will take effect tomorrow. Additionally, Trump stated that tariffs on imported cars will significantly increase starting April 2 unless Canada reduces other tariffs.

  • The JOLTS report showed that in January, new job openings totaled 7.74 million, exceeding expectations of 7.63 million.

  • Precious metals had a strong session. Gold gained nearly 1.15% intraday, while silver prices surged by 2.7%. Brent and WTI crude oil contracts added 0.52% and 0.45%, respectively, while NATGAS futures declined by 0.4%.

  • Major cryptocurrencies rebounded. Bitcoin rose above $80,000 (+4.7% to $83,000), Ethereum gained 4.5% to $1,950, and other cryptocurrencies also saw strong gains: Dogecoin (+7.5%), Solana (+6.6%), Ripple (+6.4%), and Chainlink (+6%).

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