⚠️ US President Donald Trump said at a press conference that the US and China will soon reach a trade agreement. According to him, tariffs on China will not be as high as 145%, but they will not be zero either;

📰 Trump changed his mind about firing Fed Chairman Jerome Powell, despite disappointment with high interest rates;

📉 The International Monetary Fund (IMF) lowered its global GDP growth forecast for 2025 from 3.3% to 2.8%;

🛢 According to the American Petroleum Institute (API), US oil inventories fell by 4.5 million barrels last week after growing by 2.4 million barrels two weeks earlier;

💲 Yesterday, net inflow into Bitcoin ETF was $381.4 million, which was the maximum since January 30.

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#xauusd

🥇 The XAUUSD pair is trading at $3,337 per troy ounce.

📰 Last night, US President Donald Trump sharply changed his position on China and the Federal Reserve System (FRS).

📣 In particular, Trump abandoned his previous statements about his readiness to fire Fed Chairman Jerome Powell, despite dissatisfaction with his policies and the fact that the Fed does not reduce interest rates. The president also noted that he will be "very kind" to China in any trade negotiations and that tariffs will definitely be reduced if the two countries can reach an agreement. In his opinion, the final tariffs on China should be significantly lower than 145%. The softening of Trump's rhetoric improved market sentiment and, thus, reduced the attractiveness of safe-haven gold.

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📹 What is an option?

📰 The Wall Street Journal reported Wednesday that the White House is considering cutting tariffs on Chinese goods to 65% to de-escalate the trade conflict;

📣 U.S. President Donald Trump said Wednesday that a 25% tariff on cars imported from Canada could be increased;

⚠️ The United States told Japan it could not grant it special treatment on tariffs during talks earlier this month;

🛢 U.S. crude inventories rose 0.2 million barrels last week, compared with expectations for a 0.7 million barrel decline, the Energy Information Administration reported;

📊 The U.S. manufacturing PMI rose to 50.7 in April from 50.2, while the services PMI fell to 51.4 from 54.4.

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#usdchf

🇺🇸🇨🇭 The USD/CHF pair is trading at 0.8260.

📰 Last week, the Swiss currency reached its highest since 2015, while the monthly growth of the franc was the largest since 2008. It is worth noting that the high cost of the national currency has created difficulties for local exporters, who now find it unprofitable to sell their goods. The situation is also complicated by a significant reduction in demand for goods abroad due to the consequences of the "tariff war" initiated by the Republican administration of the White House.

🏛 According to analysts, if the franc continues to grow, the national economy will come under serious pressure, which will not be allowed by the Swiss National Bank, which is now expected to intervene in the situation through currency interventions or a sharp reduction in the rate.

📈 Given this, the USD/CHF pair retains growth potential.

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