After finishing yesterday with slight gains, US futures are more muted today once again. Investors are still holding out some caution as all eyes are on Trump’s tariffs implementation next week. Here’s a catch up of the headlines from overnight:
- Goldman Sachs puts a number on what level of tariffs is expected
- Goldman Sachs warns of potential tariff shock on April 2
- Another view on what’s priced in for Trump tariffs
- Trump: Mexico and Canada have stepped it up a lot
- Canada could be on the lower end of Trump’s tariffs – report
- More from Trump on tariffs – Not many exceptions to April 2 tariffs
- Trump may implement copper tariffs within weeks
The headlines are aplenty but so far, they haven’t been adding more pressure to markets overall. Amid the calmer mood, major currencies are also keeping little changed for the most part. The dollar is still in a decent spot since the latter stages of last week, with EUR/USD keeping under 1.0800 and USD/JPY nudging back up above 150.00 today.
Coming up in the session ahead, the pound will be a key focus as we will have UK February CPI figures on the agenda alongside the spring budget statement later in the day around 1230 GMT. Those are the two main events on the economic calendar in Europe for today.
Besides which, trading sentiment will continue to revolve around the risk mood as we also gear towards month-end and quarter-end in the days ahead.
This article was written by Justin Low at www.forexlive.com.