Category: Outlook

Asset Summary – Monday, 28 April

GBPUSD saw a marginal gain in value on Monday, edging up slightly to 1.3323. This small increase represents a minor positive shift compared to the previous session’s value of 1.3315, reflecting a modest appreciation of the British Pound against the US Dollar. It’s worth noting that this current valuation remains significantly below its historical peak, suggesting considerable potential for future appreciation if market conditions become favorable.

EURUSD is exhibiting upward momentum, driven by a combination of factors. The euro has been gaining against the dollar due to speculation surrounding the dollar’s future role in global finance, coupled with increased confidence in the euro. Additionally, expectations of higher defense spending, particularly in Germany, are bolstering the euro. Despite the ECB’s recent interest rate cut and warnings of a worsening economic outlook, market expectations of further rate cuts later in the year appear to be already priced in, suggesting that the euro’s strength is likely to persist in the near term, potentially pushing the EURUSD pair higher, even with slight dollar recoveries in response to news events.

DOW JONES faces a week of potential volatility as investors react to a deluge of first-quarter earnings reports. While recent gains suggest resilience, driven by a partial recovery from earlier tariff-related concerns, companies’ increasingly cautious forward-looking guidance may temper enthusiasm. The performance of major technology companies and the evolving US-China trade landscape will likely be key drivers influencing the index’s direction. Any further signs of escalating trade tensions or disappointing earnings reports could put downward pressure on the Dow, while positive surprises or indications of de-escalation in trade relations could provide further upside.

FTSE 100 is demonstrating positive momentum, with its value increasing by 2.96% since the start of 2025. This translates to a 242-point gain on a contract for difference (CFD) that mirrors the performance of the UK’s primary stock market index. The upward movement suggests a generally favorable investment climate surrounding the companies comprising the index and signals potentially profitable trading opportunities for those engaging with CFDs linked to the FTSE 100.

GOLD’s price experienced a decline due to diminished safe-haven demand stemming from easing trade tensions between the U.S. and China. Optimistic signals from President Trump regarding trade negotiations and China’s exemption of some U.S. imports from tariffs contributed to this decreased demand. A stronger U.S. dollar also exerted downward pressure on gold, as it made the commodity more expensive for international buyers. The market is anticipating upcoming U.S. economic data releases, including GDP, inflation, and jobs figures, which are expected to influence the Federal Reserve’s policy decisions and provide further direction for gold prices.

Asset Summary – Friday, 25 April

GBPUSD is experiencing upward pressure, largely due to dollar weakness outweighing any negative impact from softer-than-expected UK inflation data. Reduced inflationary pressures in the UK have led to increased expectations of interest rate cuts by the Bank of England, potentially easing monetary policy to stimulate economic growth. While this would typically weaken the pound, the significantly weaker dollar, driven by concerns surrounding the Federal Reserve’s autonomy and global trade war fears, is providing a counterbalancing effect, pushing the currency pair to multi-month highs. This suggests that the external pressure from dollar depreciation is currently a stronger force than domestic inflationary concerns in determining the pair’s value.

EURUSD appears poised for potential gains, driven by a combination of factors weakening the dollar and strengthening the euro. Concerns about the Federal Reserve’s independence had initially weighed on the dollar, and while those concerns have eased somewhat, the euro has still experienced a significant appreciation against the dollar in April, indicating a shift in investor sentiment towards the euro as a viable alternative. This is further supported by anticipated increases in defense spending in key Eurozone economies like Germany. Despite the ECB cutting its deposit rate and signaling a potentially worsening economic outlook due to trade tensions, market expectations of further rate cuts by the end of the year might not necessarily counteract the overall bullish sentiment surrounding the euro, as investors might already be pricing these cuts in.

DOW JONES is poised to potentially benefit from positive sentiment in the broader market, fueled by strong earnings reports from major technology companies like Alphabet. The surge in tech stocks, as well as increased optimism regarding a potential Federal Reserve interest rate cut, creates a tailwind that could lift the index. However, uncertainty surrounding trade negotiations with China and the potential for tariffs may introduce volatility and temper gains. The positive performance of the major US indices in the previous session suggests that the Dow has a favorable environment to continue its upward trajectory, contingent on the continuation of positive earnings surprises and favorable macroeconomic data.

FTSE 100 experienced a volatile trading session, ultimately closing with a slight gain despite initial downward pressure. The market’s direction appears heavily influenced by ongoing trade policy concerns and the varying performance of individual companies. Positive reactions to trading updates from companies like Weir Group and St James’s Place, alongside gains in the mining and chemicals sectors, helped to offset negative sentiment stemming from underperforming banking stocks and companies affected by dividend adjustments or potential tariff impacts. This suggests a market susceptible to both positive company-specific news and broader macroeconomic uncertainties.

GOLD’s price is volatile and sensitive to geopolitical developments, particularly those related to the US-China trade relationship. Indications of easing trade tensions between the two economic superpowers tend to diminish gold’s attractiveness as a safe-haven asset, leading to price declines. Conversely, economic uncertainties and concerns about US economic performance can bolster gold prices, driving them to record highs. Investor sentiment shifts rapidly based on these factors, resulting in significant intraday and weekly price fluctuations. While gold has demonstrated strong year-to-date gains and outperformed silver considerably, its future performance hinges on the evolving dynamics of global trade and economic outlook.

Asset Summary – Thursday, 24 April

GBPUSD experienced upward momentum as the pound strengthened against the dollar, reaching a seven-month high. This movement was primarily fueled by dollar weakness resulting from concerns about the Federal Reserve and trade war impacts, overshadowing softer-than-expected UK inflation figures. While easing inflation prompted increased speculation of Bank of England rate cuts, potentially weighing on the pound, the dominant driver was the adverse sentiment surrounding the US dollar. Traders should consider the balance of these opposing forces, with dollar weakness currently exerting the stronger influence on the currency pair.

EURUSD is exhibiting a complex interplay of factors influencing its valuation. While a slight easing of concerns surrounding the Federal Reserve’s independence provided some support for the dollar, the euro has demonstrated significant upward momentum throughout April, driven by doubts regarding the dollar’s long-term strength and the euro’s emergence as a viable alternative. Furthermore, anticipation of increased defense spending, particularly in Germany, bolsters the euro’s appeal. Counteracting these positive influences, the European Central Bank’s recent interest rate cut and dovish signals, coupled with concerns about worsening economic conditions, present headwinds for the euro. The market’s expectation of further rate cuts from the ECB may further pressure the currency in the coming months.

DOW JONES experienced positive momentum, reflecting an improved market sentiment driven by de-escalating US-China trade friction and reassurances regarding the Federal Reserve’s operational independence. The Dow’s upward movement, alongside the S&P 500 and Nasdaq, suggests a bullish trend initially, though it moderated following clarification on trade talks and tariff adjustments. Disappointing guidance from IBM negatively impacted the overall market outlook, indicating potential volatility depending on individual company performance and further developments in trade negotiations.

FTSE 100 experienced a boost, closing near 8,403, primarily fueled by growing hopes for a reduction in trade friction between the US and China and a perceived stabilization of US monetary policy independence. These macroeconomic factors provided a tailwind, even as domestic data revealed a contraction in UK business activity. Individual stock movements also influenced the index; Croda International’s strong sales figures significantly contributed to the positive performance, while Fresnillo’s production decline weighed on the index. Overall, external optimism overshadowed weaker domestic economic signals, creating a positive trading environment.

GOLD is experiencing upward price pressure, driven by persistent trade war anxieties between the US and China. The lack of clear resolution in trade negotiations, as indicated by statements regarding tariff reductions, supports gold’s safe-haven appeal. While potential tariff exemptions for carmakers offer some relief, broader concerns about trade barriers and shifting investor sentiment away from US assets are contributing to a significant year-to-date increase in gold’s value and a historically high gold-to-silver ratio. This suggests continued investor preference for gold as a hedge against economic uncertainty.

Asset Summary – Wednesday, 23 April

GBPUSD is experiencing upward momentum as the pound benefits from dollar weakness despite cooling UK inflation. The softer inflation figures have led to increased expectations of interest rate cuts by the Bank of England, potentially easing monetary policy to stimulate economic growth. This, combined with a struggling US dollar, which is facing headwinds from concerns about Federal Reserve autonomy and the impact of global trade disputes, is creating a favorable environment for the pound against the dollar. The market is anticipating further easing by the BoE, adding to the potential for continued GBPUSD gains, provided that the dollar’s struggles persist.

EURUSD is experiencing upward pressure as the euro gains strength against the dollar. This movement is driven by a combination of factors, including concerns about the independence of the Federal Reserve and speculation regarding potential changes in its leadership. The euro’s recent gains also reflect a broader shift in investor sentiment, with some viewing it as a potential alternative to the dollar. Furthermore, expectations of increased government spending in Europe, particularly in defense, are bolstering the euro. Despite the ECB’s recent interest rate cut and a more cautious outlook on the economy, the EURUSD pair appears to be benefiting from the dollar’s weakness and the euro’s increasing appeal to investors.

DOW JONES experienced positive movement fueled by several factors. Initial surges stemmed from confirmation that the Federal Reserve Chair would remain in place, calming fears about monetary policy. Additional support came from signals of potential progress in trade relations with China, though later moderation occurred as the Treasury Secretary clarified that formal negotiations hadn’t begun. While the overall market benefited, individual companies like Tesla reported disappointing financial results which could have a dampening effect.

FTSE 100 experienced a positive trading day, achieving a multi-week high driven by strong performances in the industrial, consumer discretionary, and basic materials sectors. Companies like Bunzl, Experian, and Vodafone spearheaded the gains, while major retailers and miners also contributed positively to the index’s overall performance. Conversely, the decline in DCC shares following the sale of its healthcare division, coupled with weakness in US-exposed companies like Rentokil and Ashtead, partially offset the upward momentum. Comments from a Bank of England policymaker suggesting potential disinflationary benefits for the UK from US tariffs could further influence market sentiment and future trading activity.

GOLD’s recent price decline suggests a shift in investor sentiment away from safe-haven assets. The easing of US-China trade tensions and a perceived reduction in the risk of political interference with the Federal Reserve have diminished gold’s appeal as a hedge against uncertainty. While the price has retreated from its recent record high, the year-to-date performance indicates a substantial overall increase in value, suggesting continued underlying strength and investor interest, but more recently, the positive developments are pressuring the price downwards.

Asset Summary – Tuesday, 22 April

GBPUSD is experiencing upward momentum, propelled primarily by dollar weakness despite the UK’s own inflation figures coming in below expectations. The cooling inflation data, particularly in the services sector, is reducing pressure on the Bank of England to maintain high interest rates. Consequently, market expectations for rate cuts have increased, with traders anticipating a greater degree of monetary easing by the end of the year. This shift in rate cut expectations, driven by the potential for the BoE to stimulate the economy, is influencing the perceived value of the pound against the dollar.

EURUSD is exhibiting significant upward momentum, driven primarily by a weakening US dollar. Concerns regarding the Federal Reserve’s autonomy, spurred by comments from the US administration, are eroding investor confidence in the dollar. This, coupled with increased adoption of the euro as a viable alternative and anticipated rises in European defense expenditures, is strengthening the euro. While the European Central Bank has lowered its deposit rate and signaled a potentially worsening economic climate due to trade disputes, markets anticipate further rate cuts, which have not yet offset the other factors driving the currency pair higher.

DOW JONES faces a mixed outlook. While US stock futures indicate a potential rebound on Tuesday, the index remains vulnerable following significant declines in the previous session. The prior selloff, impacting all S&P sectors and particularly consumer discretionary, technology, and energy, reflects broader market unease. Concerns over the Federal Reserve’s independence, triggered by presidential criticism and hints of potential removal of the Fed Chair, could further destabilize investor confidence. Moreover, unresolved trade tensions with China continue to weigh on sentiment. This uncertainty suggests continued volatility, despite any short-term gains fueled by positive earnings reports, such as Tesla’s upcoming release.

FTSE 100 exhibited resilience, managing to end the day slightly higher despite initial downward pressure, marking its sixth straight day of gains. Positive sentiment was fueled by strong performances from Rentokil Initial, boosted by confident statements regarding the stability of its business model, and Sainsbury’s, which reported favorable results. However, Fresnillo experienced a decline as investors capitalized on recent gains driven by high precious metal prices, signaling potential profit-taking within the resources sector. The upcoming trading update from Fresnillo and the market’s reopening after a long weekend are events to watch that could sway FTSE 100 performance.

GOLD’s price is experiencing significant upward pressure stemming from several interconnected factors. Heightened risk aversion, fueled by anxieties surrounding the global economy, is driving investors towards this traditional safe-haven asset. Concerns about the independence of the US Federal Reserve following presidential criticism and potential intervention, coupled with persistent trade disputes, particularly the US-China relationship, are contributing to economic uncertainty. These factors are expected to sustain demand for gold, potentially leading to further price appreciation, as investors seek to mitigate risk and preserve capital amidst prevailing economic and political instability. The substantial year-to-date gains further reinforce the positive outlook for gold.

Asset Summary – Monday, 21 April

GBPUSD saw a notable increase in value on Monday, rising by 0.72% to reach 1.3394. This upward movement suggests positive momentum for the currency pair, building on its previous closing value of 1.3297. While this is a significant daily gain, it is important to remember that the Pound has seen much higher values historically, with its peak far above current levels. Traders will likely assess whether this recent rise indicates a sustained bullish trend or a temporary fluctuation within a broader trading range, considering the historical context alongside current market factors.

EURUSD experienced a notable upswing, adding 0.0136 points, equivalent to a 1.20% increase, to close at 1.1530 on Monday April 21. This marks a rise from its previous close of 1.1394. Examining historical data reveals that the exchange rate achieved a peak of 1.87 in July 1973. It is important to note that while the euro as a physical currency was introduced in 1999, simulated historical data allows for analysis stretching back further, based on the weighted average of predecessor currencies. This historical context is useful to understanding the volatility and potential range of the currency pair.

DOW JONES faces potential downward pressure as trading resumes following the holiday weekend. The lack of progress in US-China trade talks, coupled with warnings about the potential negative economic impacts of tariffs, are creating uncertainty among investors. Furthermore, a substantial number of S&P 500 companies, including major tech players, are scheduled to release earnings reports this week. These reports could introduce volatility, especially considering the recent declines in the Dow and other major indices. The market will likely react to the information released in these reports.

FTSE 100 has experienced positive movement early in 2025, gaining over 100 points. This rise, representing a 1.26% increase, indicates a strengthening of the UK’s leading companies. Traders using CFDs to track the index have observed this upward trend, suggesting positive investor sentiment towards the constituent companies within the FTSE 100. This could signal a period of growth or stability for the UK’s economy as reflected by the performance of its largest publicly traded businesses.

GOLD is experiencing a significant upswing, driven by several factors that are likely to sustain its high valuation. The escalating global trade tensions, particularly those involving the U.S. and China, are fueling demand for gold as a safe-haven asset. The weakening U.S. dollar is also contributing to gold’s attractiveness, making it relatively cheaper for international buyers. Furthermore, uncertainty surrounding the U.S. Federal Reserve’s leadership and potential changes to monetary policy are shaking investor confidence in the U.S. economy, pushing them towards gold. Finally, the recent interest rate cut by the European Central Bank is enhancing gold’s appeal in a low-yield environment, suggesting continued upward pressure on its price.

Asset Summary – Friday, 18 April

GBPUSD is experiencing upward momentum, primarily driven by a weakening US dollar. Despite UK inflation figures coming in lower than anticipated, suggesting potential easing of monetary policy, the pound has continued its ascent. The cooling inflation, while increasing market expectations for Bank of England interest rate cuts, paradoxically hasn’t dampened GBPUSD’s rise, likely because the market is anticipating the BoE will act to bolster the economy in the face of wider global economic headwinds. This creates a scenario where the pound is benefiting from both dollar weakness and, potentially, future economic stimulus within the UK.

EURUSD faces a complex outlook. The European Central Bank’s recent interest rate cut and cautious economic outlook, fueled by trade tensions, initially weakened the euro. However, the euro has demonstrated resilience, appreciating significantly against the dollar during April. This is likely due to a reassessment of the dollar’s global dominance and a growing perception of the euro as a strong alternative. Furthermore, anticipated increases in defense spending, especially in Germany, are providing additional upward pressure on the euro. Therefore, while the ECB’s monetary policy actions present headwinds, broader macroeconomic factors and shifts in investor sentiment currently support a positive outlook for the EURUSD.

DOW JONES experienced a notable downturn, falling 527 points due to a significant decline in UnitedHealth shares following a weak outlook. This drop occurred amidst mixed market sentiment influenced by trade talk developments and uncertainty surrounding interest rates. Despite positive movement in the S&P 500 and Nasdaq, the Dow’s performance was negatively impacted by the healthcare sector’s underperformance and overall market jitters, ultimately resulting in a 2% loss for the week.

FTSE 100 is exhibiting a positive trend, managing to close slightly higher despite initial setbacks, marking its sixth consecutive day of gains. This resilience is attributed to positive signals from individual companies, such as Rentokil Initial, whose optimistic outlook boosted investor confidence, and Sainsbury’s strong performance. However, profit-taking in Fresnillo, following a surge in bullion prices, indicates potential volatility. Overall, the market is reacting to corporate earnings and global trade policy considerations, with a pause expected as the London Stock Exchange closes for a long weekend, potentially influencing trading activity upon reopening next week.

GOLD experienced a price decline after initially hitting a record high, a move attributed to profit-taking. The precious metal’s earlier surge stemmed from its appeal as a safe haven, fueled by ongoing ambiguity in US trade policy. Fluctuations in tariff announcements, including probes into semiconductor and pharmaceutical imports, coupled with uncertainty surrounding auto tariffs and suspensions on some tech products, have contributed to market unease. Federal Reserve Chair Jerome Powell’s cautious stance on interest rates, anticipating inflationary pressures and slower economic growth due to tariffs, further influences investor sentiment. The evolving dynamics of US-China trade negotiations, with China indicating a willingness to resume talks under specific conditions, also play a significant role in shaping gold’s valuation. These factors suggest potential volatility in gold prices, influenced by geopolitical and economic uncertainties.

Asset Summary – Thursday, 17 April

GBPUSD is experiencing upward momentum, currently trading around $1.327, driven primarily by US dollar weakness. Despite recent UK CPI data indicating a slowdown in inflation, which typically weakens a currency, the pound has continued its ascent. The lower inflation figures have increased market expectations for Bank of England rate cuts, with investors pricing in a higher probability of multiple cuts throughout the year. While easing monetary policy tends to depreciate a currency, the potential for the BoE to stimulate the economy through rate reductions, in the face of global economic headwinds and rising domestic costs, appears to be outweighing the negative impact of anticipated rate cuts, at least for the short term.

EURUSD is positioned to potentially experience volatility given the current economic climate. Heightened global trade tensions and uncertainties surrounding U.S. tariff policies are weighing on investor confidence in U.S. assets, supporting the euro. While temporary tariff exclusions offer some relief, the threat of new levies, particularly on semiconductors, continues to fuel recession concerns and negatively impact the dollar. The upcoming European Central Bank policy meeting will be crucial, as a widely anticipated rate cut and any accompanying commentary on trade war impacts and future monetary policy could significantly influence the currency pair’s trajectory. A dovish ECB stance might offset the euro’s strength, whereas a more hawkish outlook, or even a neutral one, could amplify upward pressure.

DOW JONES faces uncertainty following recent market volatility. The index’s future performance is clouded by rising trade tensions, particularly between the US and China, and concerns about their potential impact on inflation and economic growth. Comments from the Federal Reserve chair regarding these risks, coupled with a lack of explicit guidance on interest rate policy, have unsettled investors. The decline in technology stocks, especially within the semiconductor sector, poses a significant headwind for broader market sentiment, potentially leading to continued downward pressure on the Dow Jones.

FTSE 100 experienced a positive trading day, closing higher despite some headwinds. Gold miners benefited from rising gold prices, contributing to the overall gains. However, global trade concerns and disappointing corporate news from Bunzl and WH Smith initially weighed on the index. Looking ahead, UK inflation figures offer a mixed signal, while the performance of companies like Barratt Redrow and Mitie suggests some resilience in specific sectors. Overall, the index’s near-term performance appears contingent on both macroeconomic factors like inflation and trade relations, as well as individual company results and investor sentiment.

GOLD is experiencing increased demand and price appreciation, reaching record highs, due to its perceived safety during times of economic and political instability. Uncertainty surrounding U.S. trade policies, including potential tariffs and ongoing trade negotiations with China, are prompting investors to seek safe-haven assets. The Federal Reserve’s cautious approach to interest rate adjustments, driven by concerns about the inflationary and growth-dampening effects of tariffs, further supports gold’s appeal as a store of value. These factors suggest continued upward pressure on gold prices in the near term.

Asset Summary – Wednesday, 16 April

GBPUSD is exhibiting conflicting signals that create uncertainty for its valuation. Positive sentiment stemming from potential delays in US auto tariffs is supporting the pound, especially for UK exporters with US ties. However, expectations of imminent rate cuts by the Bank of England due to a weakening UK economy are acting as a counterweight, potentially pushing the pound lower. The combination of strong wage growth but declining employment, alongside potential easing of inflation due to global demand softening, creates a complex scenario. Traders should anticipate volatility as the market navigates these opposing forces, weighing the impact of global trade developments against the Bank of England’s monetary policy decisions.

EURUSD is likely to experience continued upward pressure as global trade uncertainty and concerns about the US economy weigh on the dollar. The euro is finding support near its recent highs, driven by the perception that the US is facing increasing economic headwinds. While the upcoming ECB meeting could introduce volatility, a widely anticipated rate cut may already be priced in. Focus will be on the ECB’s assessment of trade risks, with dovish signals potentially capping euro gains, while signs of resilience could further boost the currency against the dollar. Any surprises regarding US tariff policy could trigger sharp, short-term fluctuations in the pair.

DOW JONES is likely to face downward pressure in early trading. The decline in U.S. stock futures, triggered by Nvidia’s significant after-hours drop, casts a shadow over the index. Nvidia’s announcement of a substantial charge related to export restrictions to China adds to concerns about the impact of trade tensions. Investors are also anticipating corporate earnings releases and retail sales data, which could introduce further volatility. Lingering trade uncertainty between the U.S. and China, particularly the Commerce Department’s investigation into semiconductor and pharmaceutical imports, could weigh on investor sentiment and potentially drive the Dow lower.

FTSE 100 experienced an upward push, driven by potential US tariff exemptions, particularly benefiting UK auto part manufacturers. This positive sentiment was further amplified by gains in financials and rate-sensitive stocks. However, the index faces potential headwinds from ongoing US probes into semiconductor and pharmaceutical imports, which could negatively impact major UK drugmakers. While certain sectors like discount retail are thriving, evidenced by B&M’s strong performance, the luxury goods sector, exemplified by the decline in Burberry and Watches of Switzerland following LVMH’s sales report, introduces an element of uncertainty. The overall outlook suggests a market responding positively to trade-related optimism but remaining vulnerable to sector-specific challenges and international trade policies.

GOLD is experiencing upward price pressure, propelled by safe-haven buying amid concerns regarding potential US trade barriers and a weaker dollar. The President’s focus on mineral import tariffs introduces uncertainty that overshadows previous positive trade news. Analyst sentiment remains optimistic, supported by investment flows into gold ETFs and ongoing central bank purchases. Market participants are closely monitoring upcoming US retail sales data and commentary from the Federal Reserve Chair for insights into the economic climate and future monetary policy decisions, which could further influence gold’s trajectory.

Asset Summary – Tuesday, 15 April

GBPUSD is experiencing upward momentum as the pound benefits from a weaker dollar influenced by uncertainty surrounding US trade policy with China. This dollar weakness is occurring despite expectations of significant interest rate cuts by the Bank of England, which would typically pressure the pound. However, caution remains as the impact of trade policies and currency fluctuations on UK inflation is unclear, adding volatility. Upcoming UK jobs and inflation data will be crucial in determining the pair’s future direction.

EURUSD is positioned for potential continued upside as the euro benefits from global trade uncertainty and wavering confidence in the U.S. dollar. Trade tensions, particularly regarding U.S. tariff policy, are fueling recession concerns and diminishing the appeal of U.S. assets. While the U.S. President has granted temporary tariff exclusions, the prospect of new levies on semiconductors and pending decisions on phone tariffs keep the market on edge. The upcoming European Central Bank policy meeting is crucial, with an expected rate cut and close scrutiny of ECB commentary on trade impacts and future interest rate strategies. Any dovish signals from the ECB could temper euro strength, but overall, the current environment favors further EURUSD gains unless the ECB significantly alters market expectations.

DOW JONES faces a mixed outlook. While the previous day saw gains spurred by tariff exemptions on electronics and the potential pause of auto tariffs, suggesting upward momentum, the future is less clear. Upcoming earnings reports from major companies across various sectors are anticipated to reveal the impact of existing tariffs, potentially introducing volatility and downward pressure if corporate guidance reflects increased uncertainty. Further weighing on the market is the newly launched US Commerce Department probe into semiconductor and pharmaceutical imports, adding to investor unease and potentially limiting upside potential. The performance of major firms may significantly dictate whether the Dow can sustain or build upon its recent gains.

FTSE 100 experienced an upward push primarily driven by positive market sentiment surrounding a temporary reprieve from US tariffs on technology goods. This, coupled with the commencement of earnings season, boosted investor confidence and led to a 2% increase. The tariff news particularly benefited risk-on sectors such as financials and commodity-related stocks. However, company-specific news reveals mixed impacts as Ashmore’s reduced assets under management contrasted sharply with Wood Group’s considerable share price surge following a takeover bid, potentially influencing overall market dynamics and investor strategies.

GOLD is experiencing upward price pressure due to ongoing economic uncertainties stemming from potential tariffs initiated by President Trump. The fluctuating exemptions for tech and auto industries, coupled with new investigations into pharmaceuticals and semiconductors, are fueling safe-haven demand for gold. Further bolstering its value is the possibility of interest rate cuts by the Federal Reserve in response to these tariffs, as suggested by Governor Waller. Conflicting signals from Fed officials, with Bostic advocating a wait-and-see approach, are contributing to market uncertainty and pricing in significant rate easing by the end of the year, further supporting gold’s appeal.

Asset Summary – Monday, 14 April

GBPUSD is likely to experience volatility and potential downward pressure. The pound’s recent strength against the dollar, driven by dollar weakness stemming from trade war anxieties, could be fragile. While the pound has been resilient, the growing likelihood of substantial interest rate cuts by the Bank of England, now almost fully pricing in a cut as early as May, presents a significant headwind. The combination of global recession fears and aggressive monetary policy easing by the BoE could outweigh any benefit the pound receives from political efforts to insulate the UK from trade war fallout. Traders should be prepared for potential declines in the GBPUSD pair as the market digests these factors.

EURUSD is demonstrating upward pressure as the euro benefits from a weaker dollar amid escalating US-China trade tensions and resulting concerns about the global economy. Investors are moving away from the dollar, a traditional safe haven, providing further support for the euro. Political stability in Europe, specifically the coalition agreement in Germany and the anticipated chancellorship of Friedrich Merz, adds to the euro’s appeal. However, the expected ECB interest rate cut and potential for further easing this year, influenced by concerns over economic deterioration, could temper gains or introduce volatility.

DOW JONES is positioned for potential gains as positive sentiment builds around trade developments and anticipation for corporate earnings. The temporary exemptions on tariffs for key tech products, while not a complete removal of trade pressures due to the existing Fentanyl Tariffs, offers some relief. Coupled with a robust market rebound last week following the tariff delay announcement, and a calendar packed with major earnings reports from companies like Goldman Sachs and Johnson & Johnson, investors may be optimistic, potentially driving the index higher. The substantial gains last week in other major indices, such as the S&P 500 and Nasdaq Composite, further supports a positive outlook for the Dow.

FTSE 100 has experienced a notable decline since the start of 2025. Tracking data reveals a decrease of 209 points, representing a 2.56% drop in its value. This contraction indicates a weakening performance of the leading UK stock market index, suggesting potential headwinds for companies listed within it and influencing trading strategies for investors utilizing CFDs linked to the index.

GOLD’s price is currently experiencing volatility driven by conflicting forces. The easing of trade tensions, specifically the temporary tariff exemption on certain electronic products, initially exerted downward pressure, causing a price decrease from recent record highs. However, looming threats of new duties on electronic goods and semiconductors are creating uncertainty that could bolster gold’s appeal as a safe-haven asset. The ongoing trade war between the U.S. and China, characterized by tit-for-tat tariff increases, has previously fueled significant price gains. Furthermore, the upcoming speech by Federal Reserve Chair Jerome Powell is being closely watched, as indications of potential rate cuts could further influence gold’s value.

Asset Summary – Friday, 11 April

GBPUSD is exhibiting upward momentum, driven by a weaker US dollar and a reassessment of UK monetary policy expectations. The dollar’s decline stems from uncertainty surrounding US trade policy, particularly conflicting signals regarding tariffs. Concurrently, expectations for aggressive interest rate cuts by the Bank of England have diminished, lending support to the pound. Furthermore, tentative signs of economic improvement in the UK, as indicated by a projected GDP increase, are contributing to a more positive outlook for the currency pair. This combination of factors suggests the potential for continued, albeit volatile, appreciation in the near term.

EURUSD experienced upward pressure due to a combination of factors. The EU’s tariff suspension on the US bolstered the euro as it eased trade tensions and allayed fears of economic downturn. Simultaneously, reduced US tariffs on some countries and increased tariffs on China injected uncertainty into the global market, indirectly favoring the euro. Furthermore, revised expectations for ECB rate cuts, indicating a less dovish stance than previously anticipated, provided additional support for the euro, leading to a higher valuation against the US dollar. Traders are now less certain about immediate rate cuts.

DOW JONES is facing downward pressure as U.S. stock futures are declining, reflecting a week of volatility driven by trade uncertainty. A significant drop in major indexes, including the Dow itself, highlights weakened investor confidence following a brief rally triggered by tariff pause news. Renewed trade war anxieties, evidenced by increased tariffs on Chinese imports, are contributing to the negative sentiment. Traders are closely monitoring upcoming U.S. consumer sentiment data and earnings reports from major financial institutions, which could further influence the Dow’s direction.

FTSE 100 experienced a significant surge, marking its largest gain since 2020, primarily driven by a shift in US trade policy. The suspension of new tariff increases instilled confidence in the global economy, positively influencing investor sentiment. The financial sector and commodity-related stocks benefitted the most from this renewed optimism, with Anglo American seeing a notable rise due to investor anticipation surrounding the sale of its steelmaking coal unit. However, the positive trend was tempered by concerns surrounding the UK grocery market, where increased competition is expected to put pressure on profits for companies like Tesco, leading to a decline in their share value.

GOLD is experiencing a significant upward trend, achieving record highs driven by several factors. The weakening US dollar makes gold relatively cheaper for investors holding other currencies, boosting demand. Heightened trade tensions between the US and China are creating uncertainty and anxiety in the market, pushing investors towards gold as a safe-haven asset. The US imposing higher tariffs on Chinese goods intensifies these concerns. Furthermore, unexpected declines in US consumer prices have increased expectations that the Federal Reserve will implement interest rate cuts, potentially making gold more attractive compared to interest-bearing assets. However, these rate cut expectations are complicated by the inflationary pressures that could arise from increased tariffs on Chinese goods. Overall, the current economic and geopolitical climate seems to favor continued strength in the gold market, positioning it for potentially its best weekly performance in several months.

Asset Summary – Thursday, 10 April

GBPUSD is exhibiting upward momentum, primarily driven by a weakened US dollar. Heightened trade tensions between the US and China, coupled with retaliatory tariff announcements from both nations, are contributing to this dollar depreciation. Furthermore, the European Union’s approval of tariffs on US goods adds to the negative sentiment surrounding the US currency. In the UK, concerns expressed by a Bank of England Deputy Governor regarding the potential impact of these tariffs on UK growth are influencing market expectations for future interest rate cuts. The increasing probability of aggressive rate cuts by the Bank of England, including a potential 50 basis point cut in May and a series of cuts throughout the year, is also factoring into the dynamics affecting the pair.

EURUSD is gaining value as trade tensions between the US and China escalate, leading investors to seek alternatives to the US dollar. The increase in tariffs imposed by both nations is diminishing the dollar’s appeal as a safe-haven asset, simultaneously, the Euro is strengthened by political stability in Europe, specifically the coalition agreement in Germany, which paves the way for new leadership. Furthermore, the anticipated interest rate cut by the European Central Bank this month appears to be already priced in, minimizing any potential negative impact on the Euro. These combined factors are pushing the EURUSD towards its highest level in several months.

DOW JONES is positioned for continued gains as positive market sentiment follows a substantial rally driven by President Trump’s tariff pause announcement. The index experienced a significant surge, mirroring gains in the S&P 500 and Nasdaq Composite. This upward trend is likely to be sustained, although the ongoing trade tensions with China and the potential for tariffs on the EU present a degree of uncertainty. The strong performance of leading technology companies suggests a broad-based recovery, potentially benefiting the Dow Jones through its constituents that participate in the tech sector.

FTSE 100 experienced a significant decline, driven by escalating global trade tensions. Retaliatory tariffs imposed by China and the European Union on US goods triggered market uncertainty, negatively impacting major UK stocks. Pharmaceutical companies like AstraZeneca and GSK faced substantial losses following indications of potential tariffs targeting the sector. Declining crude prices further pressured oil giants Shell and BP, contributing to the overall downturn. Despite a positive trading update from JD Sports, the lack of commentary on potential US tariff risks raises concerns given their significant presence in the American market.

GOLD is experiencing upward price pressure as escalating trade tensions between the US and China drive investors toward safe-haven assets. The tit-for-tat tariff increases, despite some broader de-escalation efforts, are creating economic uncertainty, bolstering gold’s appeal. Concerns within the Federal Reserve regarding rising inflation and slower growth, as indicated by recent FOMC minutes, further support the bullish outlook. The market is keenly awaiting upcoming US CPI and PPI data to gauge the Fed’s future interest rate policy. Additionally, substantial inflows into gold-backed ETFs in the first quarter of the year demonstrate strong investor confidence in the precious metal.

Asset Summary – Wednesday, 9 April

GBPUSD is facing downward pressure as the pound weakens against the dollar. Concerns about a potential global recession, fueled by trade tensions between the US and China, are driving investors away from assets perceived as riskier, like the British pound. This, coupled with increasing expectations of interest rate cuts by the Bank of England, significantly lowers the attractiveness of holding GBP. The market’s anticipation of aggressive monetary easing by the BoE, including a high probability of a rate cut in May, further weakens the pound, leading to a decline in the GBPUSD exchange rate.

EURUSD faces downward pressure as escalating global trade tensions and worries about slower global growth weigh on riskier currencies. The euro’s stability around $1.09 is fragile, contingent on the EU’s response to U.S. tariffs. The failure of the EU’s zero-for-zero tariff proposal and the potential implementation of counter-tariffs against U.S. goods create uncertainty. Furthermore, China’s firm stance against U.S. trade threats adds to the overall risk-off sentiment, likely hindering any significant upward movement for the currency pair in the near term. Traders should closely monitor trade negotiations and policy announcements from both the EU and the US as key drivers for future EURUSD direction.

DOW JONES faces downward pressure as newly implemented US tariffs on Chinese goods spark fears of a full-blown trade war. The market’s negative reaction, including Tuesday’s decline, suggests that investor confidence is shaken by the escalating conflict. Initial optimism about tariff negotiations has faded following confirmation of the tariffs, signaling further potential losses. The lack of progress despite reported interest from numerous countries underscores the uncertainty surrounding international trade relations, likely fueling further volatility. Investors’ focus will now shift to the Federal Reserve’s minutes for any indications regarding future interest rate policy, which could offer some stability or further exacerbate market concerns.

FTSE 100 experienced a significant rebound, adding 2.7% to reach a closing value of 7,910.5, effectively halting a recent period of declines. This upward movement suggests a potential recovery following substantial losses prompted by anxieties surrounding international trade policies, which had previously erased a considerable amount of market capitalization. The gains were particularly pronounced in the aerospace and defense sectors, with Rolls-Royce and BAE Systems leading the advance, indicating renewed investor confidence in these specific industries. Broader gains across various other companies imply a wider market recovery after the recent downturn.

GOLD is experiencing upward pressure, driven primarily by its role as a safe-haven asset in the face of escalating global economic uncertainty. The imposition of tariffs by the United States, specifically the significant duties on Chinese goods and the potential for further tariffs on pharmaceuticals, is heightening concerns about a global recession and inflationary pressures. This uncertainty is encouraging investors to seek refuge in gold. Furthermore, substantial inflows into gold-backed ETFs indicate strong investor confidence in the metal. Traders are also closely watching the Federal Reserve’s upcoming policy meeting minutes for clues regarding potential future interest rate adjustments, which could further influence gold’s value.

Asset Summary – Tuesday, 8 April

GBPUSD is facing downward pressure as the British pound weakens against the US dollar. This decline is attributed to increased risk aversion in the market stemming from worries about a potential global recession fueled by US trade policies. China’s retaliatory tariffs have exacerbated these concerns, prompting investors to anticipate significant interest rate cuts from the Bank of England. The growing expectation of aggressive monetary easing by the BoE, including a high probability of a rate cut in May, is further diminishing the appeal of the pound, thus contributing to the decline in the GBPUSD exchange rate.

EURUSD is likely to experience volatility and potential downward pressure. The escalating trade war, particularly the tariffs imposed by the U.S. and China, is creating economic uncertainty. The anticipation of retaliatory measures from the EU, coupled with President Macron’s call to suspend U.S. investments, signals a weakening of economic ties and potentially slower growth in Europe. This environment increases the likelihood of the ECB easing monetary policy, specifically rate cuts, which would devalue the Euro relative to the Dollar. The market’s expectation of a near-certain rate cut in April and further reductions throughout the year suggests a bearish outlook for the Euro, influencing EURUSD downwards.

DOW JONES experienced a decline in value, continuing a downward trend over the past three sessions amid ongoing market volatility and uncertainty surrounding tariffs. Despite an initial surge driven by tariff pause speculation, which was later refuted, the Dow Jones ultimately closed lower. Investors are closely watching upcoming inflation data, which could significantly impact the Federal Reserve’s monetary policy decisions and, consequently, influence the Dow Jones’s future performance.

FTSE 100 experienced a significant decline, reaching its lowest point in over a year, primarily driven by global market anxieties stemming from escalating trade tensions initiated by US tariffs and subsequent retaliatory actions. Investors are responding to developments regarding tariffs and retaliatory measures from other countries. The prospect of further tariff increases from the US has amplified market uncertainty, contributing to substantial losses in various sectors, with Melrose Industries, RELX, Sage Group and Rentokil Initial being some of the most impacted companies. However, a few companies such as Fresnillo, Entain, Natwest Group and Taylor Wimpey displayed some resilience against the broader downward trend, showing that there are still some companies performing well.

GOLD is experiencing upward price pressure, driven by anxieties surrounding a potential global recession fueled by escalating trade tensions between the U.S., China, and the EU. President Trump’s tariff threats are stoking fears and pushing investors towards safe-haven assets like gold. Market participants are also keenly awaiting upcoming economic data releases, including the Federal Reserve minutes and inflation reports, which could offer clues about future monetary policy decisions and further influence gold’s trajectory. Despite recent pullbacks, gold maintains a strong year-to-date performance, indicating continued investor confidence in its value.