Federal Reserve speakers Tuesday include Jefferson, Harker, Kashkari, Barkin, and KuglerBank of England Deputy Governor Sarah Breeden speaks on Tuesdau - monetary policyWall Street Journal says Trump Is Laying the Groundwork to Blame Powell for Any DownturnChina's automobile exports +16% y/y in Q1 2025ECB policymakers Klaas Knot and Luis de Guindos speak TuesdayKey Congress leader says every Treasury sale of debt is a 'hold your breath' momentPBOC sets USD/ CNY reference rate for today at 7.2074 (vs. estimate at 7.2925)The U.S. Securities and Exchange Commission (SEC) has a new 'crypto friendly bossTesla offers five-year zero interest financing on refreshed Model Y in ChinaSouth Korea will implement smaller tax cuts on oil products from MayShanghai’s gold ATM draws crowds as prices soarWhy you are hearing a lot, and will hear more, about bonded warehouses -Trump tariff whimsICYMI - China pulls back from U.S. private equityJapan economy min Akazawa confirms agriculture will not be compromised in US tariff talksJapan's Finance Minister to meet with US Treas Sec Bessent to discuss FX mattersMoody's Zandi says Trump's policies set to severely diminish the economy for yearsNew Zealand data: March trade balance NZD 970mn surplus (prior +392mn NZD)Morgan Stanley says Trump's erratic tariff policy has brought on COVID-level uncertaintyGold price up again, hits a record now above USD3430ICYMI - Ford suspends exports of several vehicles to China amid tariffsJP Morgan on the Trump risk to Federal Reserve independenceSouth Korea March 2025 PPI +1.3% y/y (prior +1.5%)Big Tesla Tuesday coming up - Q1 2025 results due Tuesday, April 22ICYMI - BlackRock has purchased another US$84mn of Bitcoin for its spot Bitcoin ETFMajor US indices close sharply lowerICYMI: Citigroup shifts Fed rate cut call to June, maintains 125 bps easing 2025 forecastTrade ideas thread - Tuesday, 22 April, insightful charts, technical analysis, ideasPope Francis: A man who loved God, his neighbor and even his enemiesForexlive Americas FX news wrap: US dollar struggles to get off the floor
Gold rose to another record high price in early trade here in Asia and then kept adding higher throughout the morning. As I update its above US$3452 USD3472 (I can't keep up!). . The catalysts are familiar:
central banks buying as the reliability of the US and USD increasingly comes into questionETFs buyersgeopolitical tension increasingand mix in shorts chasing their tails after trying to nail a top
News and data flow was light.
US equity index futures traded higher. The initial upmove came ahead of an announcement from Tesla that its offering five-year zero interest financing on refreshed Model Y in China. TSLA earnings are due Tuesday afternoon, US time. There is a preview linked in the points above.
USD/JPY is net little changed on the session after a run higher to above 141.10 and a retrace back under 140.65. EUR/USD did a round-trip also, under 1.1485 before popping back to above 1.1510.
USD/CHF and GBP/USD are higher.
AUD, NZD, CAD are all not a lot changed.
This article was written by Eamonn Sheridan at www.forexlive.com.
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