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Commerzbank's FX analyst Michael Pfister noted that the UK is less impacted by new tariffs compared to the EU, receiving a 10% tariff while the EU faces 20% and Germany up to 25%. He questioned the US government's strategy, suggesting it may inadvertently punish countries with trade deficits, like the UK and Brazil, rather than achieving balanced trade. Pfister argued that the tariffs reflect a lack of careful consideration in their implementation.
The Swiss National Bank (SNB) has cautiously intervened in the foreign exchange market, purchasing around 100 million CHF in the fourth quarter and a total of 1.2 billion CHF last year to weaken the franc. Despite its willingness to act more decisively, the SNB remains wary of the risks associated with a large balance sheet and potential tariffs under the current U.S. administration. With the EUR/CHF rate rising, the SNB appears more comfortable with the franc's position than in the previous year.
Italian inflation surged in March, while German inflation dipped slightly. Marine Le Pen was convicted of embezzling EU funds, facing prison and a five-year election ban, raising concerns about France's governance. The ECB may keep interest rates steady in April, influencing the euro's strength.
Gold prices surged to nearly a record high, reaching $2,921 per troy ounce amid rising concerns over the new US administration's aggressive tariff policies, which have sparked fears of a potential trade war. Analysts highlight increased demand for safe havens like gold due to geopolitical risks and uncertainty in the market following the US's military support changes for Ukraine.
Michael Pfisterer
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
uk faces lower tariffs than eu amid trade tensions with us
16:18 04.04.2025
Swiss National Bank maintains cautious approach in foreign exchange interventions
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gold prices surge amid trade war fears and geopolitical tensions
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