The Japanese Yen (JPY) retains its negative bias through the Asian session on Thursday against a broadly recovering US Dollar (USD) as a generally positive risk tone is seen undermining demand for traditional safe-haven assets.
The GPIF — the world’s largest pension whale — just dropped a geopolitical bombshell, quietly removing China A-shares from its foreign equity benchmark.
The volume has been coming in waves, and today may have just been the start of the next one. If volume is heavy tomorrow, it’s likely because sellers are pushing prices lower.
The reprieve from the angst of the trade war lasted a couple of days, but it has returned following Beijing's actions against Boeing and the US requiring Nvidia to get export licenses.
The US has critical rare earth metals. However, extracting and refining those metals face environmental regulations, high costs, and limited infrastructure.
Overnight, U.S. markets lost early gains and closed lower as President Trump's ongoing tariff disputes with trading partners kept investors wary despite strong equity reports from major financial firms.
GBPUSD has recently broken above its April 3, 2025 peak of 1.3207, which we identified as wave (1) in the chart. This breakout signals a bullish trend starting from the January 13, 2025 low of 1.2705, suggesting more upward movement ahead.
The ECB is widely expected to cut rates by another 25bp on 17 April, as growth risks have intensified on the back of US tariffs. The Governing Council may highlight rates are now close to neutral, but that doesn’t rule out further tariff-led cuts.
