📰 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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🇺🇸 Orders for durable goods in the United States rose 9.2% in March, while analysts had forecast an increase of 2%;

📊 U.S. initial jobless claims totaled 222,000 last week, up from the previous week's revised 216,000;

🏛 European Central Bank chief economist Philip Lane told Bloomberg News on Thursday that he does not expect the trade fallout to lead to a recession in the euro zone;

🇨🇳 China's Commerce Ministry has called on the U.S. to lift all tariffs on Chinese imports "if it really wants to solve the problem";

🇯🇵 Japanese Economy Minister Ryosei Akazawa will visit Washington next week to resume tariff talks;

📈 Tokyo's overall consumer price index (CPI) rose 3.5% year-on-year in April, up from 2.9% in the previous month.

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#gbpusd

🇬🇧🇺🇸 The GBP/USD pair is trading at 1.3315.

📊 The pound is supported by positive data on retail sales in the UK. Thus, the consumer spending indicator grew by 0.4% in March, while analysts expected a decline of 0.4%. In annual terms, retail sales grew at a faster pace of 2.6% compared to the previous figure of 2.2%.

🏛 Theoretically, positive data on retail sales may reduce the likelihood of easing the British monetary policy during the May meeting of the Bank of England. In addition, traders are waiting for trade talks between representatives of London and Washington on Friday. Before the meeting, British Finance Minister Reeves said on the air of the American TV channel Newsmax that she is confident that they will be able to reach an agreement.

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

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💡 Rollovers, holidays and dividends in the following week
📆 April 28 – May 3, 2025

Dear clients❗️

Please find below information on dividends, and holidays in the following week.

Due to national holidays, trading on the following instruments will be changed.

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