Japan tariff negotiator rules out quick deal

Trump’s team has been touting progress towards a deal with Japan and market participants have been watching closely for the contours, as it will offer a framework for others. But…

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FX closing levels for the week: USD/CHF continues to bleed

The Good Friday holiday ensured it would be a quieter day than most this year but it wasn’t exactly quiet in the FX market. There were some decent moves on…

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China Cabinet Meeting: Will step up counter-cyclical adjustment

Will step up counter-cyclical adjustment. Will strive to stabilise employment, foreign trade. Will boost consumption, domestic demand. Will encourage companies to actively stabilise employment. Will support foreign companies to reinvest…

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Lutnick: Electronics products will have special tariffs coming in a month or so

From an interview on ABC: Electronics products will be part of upcoming sectoral tariffs Pharma tariffs also coming in the next month or two US has had ‘soft entrees’ through…

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Smartphones, computers and chips will still face 20% tariffs

The White House’s Stephen Miller — who is prickly at the best of times — is out with a tweet noting that 20% fentanyl tariffs still apply to China. He…

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US March PPI +2.7% vs +3.3% expected

Prior was +3.2% PPI -0.4% m/m vs +0.2% expected Ex food and energy +3.3% y/y vs +3.6% expected Ex food and energy -0.1% m/m vs +0.3% expected Ex food, energy…

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All eyes stay on the bond market in final trading day of the week

Despite a decent 30-year bond auction yesterday, yields are continuing to surge as broader market dislocations are persisting. 30-year yields in the US shot to a high of 4.95% earlier…

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PBOC is expected to set the USD/CNY reference rate at 7.3484 – Reuters estimate

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the…

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White House: Trump directed team to have tailor-made trade deals with every country

White House Press Secretary Karoline Leavitt: “The President met with his trade team this morning, and he directed them to have tailor made trade deals with each and every country…

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US futures hold up for now but tariffs threat remains

S&P 500 futures +1.4% Nasdaq futures +1.1% Dow futures +1.7% While there is a suggestion that market players are holding out some optimism for Trump to start making deals, the…

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