Forexlive European FX news wrap: China wants US to drop tariffs, markets still positive ...Middle East

Why market positioning is a key ingredient to trading performanceFMAS:25 – Africa's Largest Trading SummitECB's Rehn: ECB shouldn't rule out larger interest rate cutRussia says Zelensky has categorically refused to make any concessionsGermany April Ifo business climate index 86.9 vs 85.2 expectedChina Commerce Ministry: There haven't been trade negotiations between China and USChina's Guo: China will fight tariff war if we mustFrance April consumer confidence 92 vs 91 expectedNomura sees the SNB returning to negative rates in the next quarterWhat are the main events for today?Xi says China willing to work with other countries to uphold international trade rulesGermany says that Plan A is still to agree to reduction of tariffs with the USFX option expiries for 24 April 10am New York cut

I also saw a nice take from a supply chain management executive warning that in case we get a rollback of tariff hikes on China, it could create an "insane surge in pricing and covid level logistics bottlenecks" in freight shipping (which have collapsed recently). This is definetely something that the market will likely price in once we get the catalyst.

In the American session, the US Jobless Claims will be the main highlight but unless we get a surprise spike above the 260K level, the market will likely ignore the data. The focus remains on tariff related news.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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