Market Commentary: Friday 11th April

The US dollar extended its losses as the euro hit a three-year high and the Swiss franc touched its highest level in a decade.

The yen advanced to a six-month high, and emerging market currencies such as the Korean won and Thai baht also rallied against the dollar.

Gold has posted a new high and is now sitting near the $3,200 level.

Equity index futures for both Europe and the US continued to recover.

Overall, there appears to be a reallocation of portfolios away from US dollar assets.

The White House clarified that US tariffs on China have risen to 145%.

It seems the Trump administration's stance has shifted from an all-out trade war against everyone to a concentrated trade war against China, with China’s immediate retaliation emerging as the key driver of recent market moves.

Cryptos are up about 1% on average:

• Bitcoin rose 1% to $80,644.98

• Ether rose 1.1% to $1,546.19

Despite a rebound back above $60, oil is still on track for its second weekly loss.

For scheduled releases, we have US Core PPI today, along with Preliminary University of Michigan Consumer Sentiment.

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