The markets were not all that giddy about the Time Magazine interview with Pres Trump. The article addressed several key international and economic issues.

  • He expressed no or little concern about the bond market turmoil earlier in April, stating confidence in his economic direction.
  • On foreign policy, he asserted that Crimea would remain with Russia and maintained that peace is possible even with Vladimir Putin in power
  • When asked about potential U.S. involvement if Israel goes to war with Iran, he clarified he didn’t commit to staying out.
  • He confirmed that China’s President Xi had contacted him
  • He also emphasized that high tariffs—i.e. 20% to 50%—are part of a long-term strategy to bolster the U.S. economy, calling such a scenario a “total victory.”
  • Trump noted upcoming trade deal announcements and reiterated his openness to taxing millionaires.
  • He also entertained the oft-mentioned expansionist ideas such as acquiring the Panama Canal, Greenland, and making Canada the 51st U.S. state.

Although stocks were lower to start the trading day, they did ease into the open and moved into positive territory in the morning session.

The Michigan consumer sentiment index was a positive at least relative to the preliminary data, although still near the lowest levels going back to at least 2009. The inflation readings were also elevated with one-year inflation at 6.5%, but at least it was lower than the 6.7% preliminary.

That helped to keep the stocks in positive territory. As Pres. Trump said today the market seem to be getting used to the tariffs (until there used to or the impact from inflation/supply shocks make the markets nervous again). Nevertheless, today was the fourth consecutive day higher in major US stock indices. The NASDAQ index after losing over -2.5% clawed back those declines and added 6.7% more for the week. The S&P index closed higher by 4.59% for the trading week after also climbing by about -2.5% on Monday.

For the trading day:

  • Dow industrial average rose 0.05%
  • S&P index rose 0.74%
  • NASDAQ index rose 1.26%

European shares also advanced today and for the week:

  • German DAX rose 0.81% for the day, and 4.89% for the week.
  • UK’s FTSE 100 rose 0.09% for the day and 1.69% for the week
  • CAC rose 0.45% for the day and 3.44% for the week.
  • Spain’s Ibex rose 1.33% for the day and 3.39% for the week
  • Italy’s FTSE MIB rose 1.47 for the day and 3.8% for the week

In the US debt market, yields were lower today, and closed lower for the week as well:

  • 2-year yield 3.756%, -3.5 basis points. For the week the yield fell -4.4 basis points.
  • 5-year yield 3.875%, -5.2 basis points. For the week the yield fell -6.7 basis points.
  • 10 year yield 4.250%, -5.4 basis points. For the week, the yield fell -8.0 basis points
  • 30 year yield 4.716%, -4.9 basis points. For the week the yield fell -9.0 basis points

The 2 – 10 year spread reached its highest level since January 2022 this week rising to 64.8 basis points, but is back down to 50.1 basis points at the end of the week.

The 2-30 year spread also reached the highest level going back to January 2022 at 113 basis points, but is closing at 96.2 basis points.

The US dollar is ending the day higher versus all the major currencies. Looking at the changes:

  • EUR, +0.25%
  • JPY +0.79%
  • GBP +0.24%
  • CHF +0.12%
  • CAD +0.04%
  • AUD +0.20%
  • NZD +0.60%

For the trading week,, the greenback was mixed with gains versus the EUR, JPY, CHF and losses vs the GBP, AUD and NZD. The USD was near unchanged vs the CAD. A snapshot of the week changes shows:

  • EUR +0.26%
  • GBP -0.16%
  • JPY +1.12%
  • CHF +1.44%
  • CAD unchanged
  • AUD -0.35%
  • NZD -0.54%

This article was written by Greg Michalowski at www.forexlive.com.US stocks end the week with a four day win streakFeds Semi-annu Anderson al survey: Risks to global trade are the most frequently cited riskWhat are the key economic events on the calendar next weekEarnings calendar: Microsoft, Meta, Amazon, Apple, McDonald’s, Starbucks, Coca-ColaCrude oil futures settle at $63.02EU Comm. Dombrovski: Reiterates that EU willing to reach mutually agreeable solution w/ USTrump: Will not drop China tariffs unless they give us somethingTrump: We will be reasonable on tariffsEuropean equity close: Solid gains to cap a sizzling weekKremlin: US envoy Witkoff and Putin met for 3-hours. Talks were constructiveBOE Greene: we are not sure if weakness in UK economy is demand or supplyUniversity of Michigan final sentiment for April 52.2 versus 50.8USTR: Greer: It is constantly engaged w/Japan & other countries in reciprocal trade talksCanada retail sales for February -0.4% versus -0.4% estimateChinese Embassy: US and China are not having any talks on tariffsThe USD is higher to start the new trading day. What are the charts telling traders?Forexlive European FX news wrap: Markets less optimistic after Trump’s interview with TimeThe markets were not all that giddy about the Time Magazine interview with Pres Trump. The article addressed several key international and economic issues.He expressed no or little concern about the bond market turmoil earlier in April, stating confidence in his economic direction.On foreign policy, he asserted that Crimea would remain with Russia and maintained that peace is possible even with Vladimir Putin in power When asked about potential U.S. involvement if Israel goes to war with Iran, he clarified he didn’t commit to staying out. He confirmed that China’s President Xi had contacted himHe also emphasized that high tariffs—i.e. 20% to 50%—are part of a long-term strategy to bolster the U.S. economy, calling such a scenario a “total victory.” Trump noted upcoming trade deal announcements and reiterated his openness to taxing millionaires.He also entertained the oft-mentioned expansionist ideas such as acquiring the Panama Canal, Greenland, and making Canada the 51st U.S. state.Although stocks were lower to start the trading day, they did ease into the open and moved into positive territory in the morning session. The Michigan consumer sentiment index was a positive at least relative to the preliminary data, although still near the lowest levels going back to at least 2009. The inflation readings were also elevated with one-year inflation at 6.5%, but at least it was lower than the 6.7% preliminary.That helped to keep the stocks in positive territory. As Pres. Trump said today the market seem to be getting used to the tariffs (until there used to or the impact from inflation/supply shocks make the markets nervous again). Nevertheless, today was the fourth consecutive day higher in major US stock indices. The NASDAQ index after losing over -2.5% clawed back those declines and added 6.7% more for the week. The S&P index closed higher by 4.59% for the trading week after also climbing by about -2.5% on Monday.For the trading day: Dow industrial average rose 0.05%S&P index rose 0.74% NASDAQ index rose 1.26%European shares also advanced today and for the week:German DAX rose 0.81% for the day, and 4.89% for the week.UK’s FTSE 100 rose 0.09% for the day and 1.69% for the week CAC rose 0.45% for the day and 3.44% for the week.Spain’s Ibex rose 1.33% for the day and 3.39% for the weekItaly’s FTSE MIB rose 1.47 for the day and 3.8% for the weekIn the US debt market, yields were lower today, and closed lower for the week as well: 2-year yield 3.756%, -3.5 basis points. For the week the yield fell -4.4 basis points.5-year yield 3.875%, -5.2 basis points. For the week the yield fell -6.7 basis points.10 year yield 4.250%, -5.4 basis points. For the week, the yield fell -8.0 basis points30 year yield 4.716%, -4.9 basis points. For the week the yield fell -9.0 basis pointsThe 2 – 10 year spread reached its highest level since January 2022 this week rising to 64.8 basis points, but is back down to 50.1 basis points at the end of the week.The 2-30 year spread also reached the highest level going back to January 2022 at 113 basis points, but is closing at 96.2 basis points.The US dollar is ending the day higher versus all the major currencies. Looking at the changes:EUR, +0.25%JPY +0.79%GBP +0.24%CHF +0.12%CAD +0.04%AUD +0.20%NZD +0.60%For the trading week,, the greenback was mixed with gains versus the EUR, JPY, CHF and losses vs the GBP, AUD and NZD. The USD was near unchanged vs the CAD. A snapshot of the week changes shows: EUR +0.26%GBP -0.16%JPY +1.12%CHF +1.44%CAD unchangedAUD -0.35%NZD -0.54%
This article was written by Greg Michalowski at www.forexlive.com.  Read MoreNews 

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