US Dollar (USD) inched higher as 2 Apr reciprocal tariff deadline draws nearer. Officials said that Trump will announce widespread reciprocal tariffs on nations or blocs but is set to exclude some. DXY was last at 104 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note. USD may continue to be better bid in the near term "As of now, Trump administration is not planning separate, sectoral-specific tariffs to be unveiled at the same event. It was also mentioned that only countries that don't have tariffs on the US, and with whom the US has a trade surplus, will not be tariffed...
Gold's price (XAU/USD) stabilizes near $3,030 at the time of writing on Monday as traders assess fresh tariff headlines over the weekend. News emerging that the Trump administration will ease off on the broad scope of tariffs being imposed on April 2 brings sighs of relief in markets. Instead, United States (US) President Donald Trump is said to be looking for more specifically targeted tariffs on specific sectors per country or region. This helps ease the fear of broad reciprocal tariffs. The idea behind these tariffs is to get companies to reshore back to the US. However, a 25% tariff...
Oil prices climbed in choppy trade on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against talks to end the war in Ukraine, which could increase supply of Russian crude to global markets. Brent crude futures rose 36 cents, or 0.5%, to $72.52 a barrel by 1004 GMT. U.S. West Texas Intermediate crude was up 40 cents, or 0.6%, at $68.68. "Crude remains rangebound as traders continued to weigh the impact of new U.S. tariffs, the risk of an economic slowdown, as well as increased OPEC+ supply from next month and the prospect of stepped-up U.S. sanctions...