Market Commentary: Tuesday 22nd April

Little progress has been made in tariff negotiations so far, leading the USD to continue weakening.

USD/JPY briefly dipped below 140 overnight, and sterling is now trading above 1.3400.

Gold continued its advance through $3,400 and briefly touched $3,500 a few moments ago.

Trump’s disputes with Powell continue to impact the market, with Trump warning that failure to cut rates could slow economic growth.

US Vice President Vance’s meetings with Indian Prime Minister Narendra Modi appeared to go well, with mentions of “significant progress” toward a bilateral trade deal.

Market moves:

• Crude rose 1% to $63.73

• Bitcoin rose 1.1% to $88,332.26

• Ether rose 0.3% to $1,581.46

A few FOMC members are scheduled to speak today, along with ECB President Lagarde, but they are unlikely to have a major market impact.

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