| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | Germany | CPI, m/m | March | 0.4% | 0.3% | 0.3% |
| 06:00 | United Kingdom | Manufacturing Production (MoM) | February | -1% | 0.2% | 2.2% |
| 06:00 | Germany | CPI, y/y | March | 2.3% | 2.2% | 2.2% |
| 06:00 | United Kingdom | Industrial Production (MoM) | February | -0.5% | 0% | 1.5% |
| 06:00 | United Kingdom | GDP m/m | February | 0% | 0.1% | 0.5% |
| 06:00 | United Kingdom | GDP, y/y | February | 1.2% | 0.9% | 1.4% |
| 07:00 | Switzerland | SECO Consumer Climate | March | -34 | -32 | -35 |
During today's Asian trading, the US dollar continued its recent decline against major currencies and briefly reached its lowest level since July 18, 2023 amid declining investor confidence in the US economy.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) fell by 0.63% to 100.31. Earlier today, DXY dipped below 100 for the first time since July 2023. Markets reversed a brief relief rally sparked by President Trump’s Wednesday decision to pause tariff hikes on several trading partners. However, the optimism faded quickly as Trump excluded China from the pause, increasing tariffs on Chinese goods to an effective rate of 145%, intensifying tensions between the world’s two largest economies. Meanwhile, long-dated U.S. Treasury bonds sold off, pushing 10-year yields towards their biggest weekly gain since 2001. Gold soared 1.5%, reaching a new all-time high, while 10-year Treasury yields approached 4.50%. Treasury Secretary Scott Bessent claimed the tariff rollback was always part of a strategy to bring other countries to the negotiating table. Trump later acknowledged that market turmoil had influenced his decision. Since his return to the White House, Trump has repeatedly made trade threats only to partially reverse them, leaving global leaders and businesses uncertain about future policy direction.
The Chinese yuan, which hit a record low offshore on Tuesday, recovered midweek but weakened slightly again on Friday. However, the People's Bank of China raised its official yuan midpoint for the first time in a week, signaling a preference for gradual weakening rather than a sharp devaluation.