Boeing CEO Kelly Ortberg said that the planemaker is focused on improving safety and not pressuring workers to speed up production after a 2024 mid- air 737 MAX 9 emergency. "I'm not pressuring the team to go fast.
U.S. President Donald Trump is due to appear shortly at the White House Rose Garden for a "Liberation Day" ceremony where he is expected to announce sweeping tariffs that could escalate a trade war and upend the global economy. Trump has kept the world guessing ahead of the 4 p.m. ET event about the details of the new tariffs, which are expected to prompt countermeasures from trading partners.
The announcement of the reciprocal tariff plan comes against a backdrop of worsening economic data which has been the key factor behind the change in financial market reaction to tariff news from US dollar supportive to dollar negative.
President Trump’s so-called “Liberation Day” has arrived and an announcement is scheduled for the Rosa Garden at 4pm Washington time when all will be revealed in terms of the tariff actions against the US’s trading partners.
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The US dollar has weakened modestly start the start of this week resulting in the dollar index falling back below the 104.00-level. The main trigger has been Bloomberg report stating that President Trump’s plans for a “Liberation Day” tariff announcement on 2nd April is poised to be more targeted according to aides and allies.
Markets were spent most of the overnight session reacting to the implementation of tariffs by the US. However, news of a possible reversal late in the session saw reversals.
The DXY fell as implications of tariffs on the US economy are considered. The euro outperformed rising to a multi-month high following the announcement of a defence fund in Germany.
An increase in risk sentiment saw bond yields jump while equities finished lower.
US equity market recorded the steepest daily losses since mid-December and USD depreciated notably as President Trump confirmed that import tariffs on Canada, Mexico and China will go up, and a weaker manufacturing survey added to market concerns about wakening US growth.
Gold started 2025 on a strong footing, following a stellar performance in 2024. Barring possible setbacks, we believe that underlying factors will continue to support gold this year.
