It's finally here. For weeks on end, Trump has called this Liberation Day whereby we're going a new shift in the global trade paradigm. The main thing to watch is tariffs of course but it is still unclear as to what exactly Trump is planning. Reports are suggesting that Trump and his team are still finalising plans, so we'll have to wait and see.
The main fear is that we could see sharp tariffs that would risk further escalation in global trade conflict. Retaliatory measures by the likes of Europe, Canada, and China are also key risks to watch out for, besides Trump's announcement.
But the first part in the broader market reaction will be from the announcement later at 2000 GMT (4pm ET) at the White House.
As for the bigger picture, it will beg the question: Have we shifted into a new regime where tariff fears will lead to a sell on rallies rather than buy on dips?
That aside, we do have to get through European morning trade first. However, there isn't anything noteworthy in the session ahead to distract markets from the main event.
There isn't any major economic data releases and so, all eyes will be on Trump's tariffs in the day ahead. That will make for quite a bumpy end to the week, not least with the US jobs report also coming up on Friday.
This article was written by Justin Low at www.forexlive.com. Read More Details
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