Yen futures formimg .70-.71 top from the previous .63 low   :gtwo3

Trump exempts phones, computers, chips and other products from new tariffs

S​martphones, computers and other electronics will be exempt from President Trump’s sweeping reciprocal tariffs, the administration announced.​

I​n a break for consumers, the ​United States will not collect the new duties on about 20 products listed in guidance issued by Customs and Border Protection, the federal agency tasked with collecting tariff revenues.

The exemptions appear to include products manufactured in China — which Trump had previously slapped with 145% levies on some goods.(NYP)

The guidance also includes exclusions for other electronic devices and components, including semiconductors, solar cells, flat panel TV displays, flash drives, and memory cards.

NIO Inc.

More proof of life coming on NIO…

Now for the turn of the trend two things have to happen:

–          First to break above 3.50

–          Second to test a support at 3.20 again and to hold and form a base for move up

If not, it will attack 3.00 and if below it targets 2.00

10 year slips to 4.497%

Try Newsquawk free for 7 days

XAUUSD 1 HOUR CHART –Power of 50

Next obstacle is the Power of 50 3250 level… best guess in uncharted waters.

Otherwise needs to hold 3200 to keep the uber bid.

US yiekds moving higher.. 10 year 4.569%…. Fed’s Williams… HIGH LEVELS OF UNCERTAINTY…expects… slower growth… higher joblrss… higher inflation

Ugly U of M report

Miss on downside … inflation expectations rise

Earlier China said after hiking tariff rates that it would not respond with more hikes if the US retalates.

Gold price forecasts raised as rally continues
UBS and Commerzbank raised their gold price forecasts on Friday, joining other investment banks as investors drive the safe-haven metal to record highs amid the economic uncertainty sparked by U.S. President Donald Trump’s trade policies.

Gold prices breached $3,200 an ounce for the first time on Friday. Prices are up more than 22% so far this year.

“We expect gold’s rally to extend into next year and for prices to stabilise at higher levels further out,” UBS analysts said in a note, forecasting prices will hit $3,500/oz this year.

Commerzbank also raised its gold price forecast for the end of this year to $3,000, from $2,850, noting that assets under management in gold exchange-traded funds were a record $345.5 billion at the end of March.

Central bank gold buying has also been a factor in the price surge this year.

Top gold consumer China’s gold reserves stood at 73.7 million fine troy ounces at the end of March, up from 73.61 million ounces at the end of February, as the central bank bought the precious metal for a fifth straight month.

Earlier this week, Deutsche Bank raised its average gold price forecasts for 2025 and 2026 to $3,139 and $3,700 per ounce respectively.

The following is a list of the latest forecasts for 2025 and 2026 gold prices (in $ per ounce):

Germany corporate earnings week ahead

Diary of Germany (.GDAXI) corporate earnings for the week ahead
GERMANY EARNINGS

This needs to be kept in mind

“Investors around the world have viewed America as the best place to invest…One of the ways that expresses itself is lower yields,” Kashkari said on CNBC. “If investors decide we want to invest elsewhere…that ought to be pushing up yields.

Downside miss in PPI, follows the CPI misss…. miled reaction… new ball game after tariffs kick in

Inflation expectations will be more important in U of M report

ok.. not all at the same time PLZ!
–
somethings on the calendar
8:30 PPI

10:00 musalem // yaks on US economy & policy
10:00 U. of Mich
11:00 williams // on outlook and monetary policy

—
I am thinking that potential DLR popps will probably be sold
UNLESS , some how, the tariff-iking gets suddenly win-win unwound and poofs

Rumors of Fed intervention?

Reminder that the Treasury is responsible for forex policy, not the Fed