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Key Points
- The European Commission is reportedly considering short-term economic support measures to assist sectors impacted by President Trump’s tariffs, while China is restricting domestic companies’ investments in the U.S.
- In a speech at the White House Rose Garden, President Trump announced a reciprocal tariff policy, imposing a universal 10% tariff on all imports, with higher individual tariffs on the "worst" countries from the U.S. perspective. He left room for negotiations, suggesting possible future adjustments.
- Europe strongly criticized the reciprocal tariffs, calling it an “Inflation Day,” while Canada announced retaliatory measures, and China is also escalating its response.
This Week’s Key Economic Events
+ April 4: U.S. March Nonfarm Payrolls, U.S. March Unemployment Rate, Fed Chair Powell’s speech
GBPUSD Chart Analysis
With Trump's reciprocal tariff announcement increasing market volatility, GBPUSD swiftly broke through the previously resistant 1.30000 level. In the short term, an upward move toward 1.31500 is expected. If it breaks above 1.31500, further gains toward 1.34000 are likely. However, if resistance is encountered in this range, a pullback toward 1.28500 could occur, making it crucial to monitor price action at resistance levels.
