Markets mixed after Trump’s tariff pause - 10.4.2025

The Dollar weakening has resumed today. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, ended little changed on Wednesday.

EUR/USD halted its climbing while GBP/USD accelerated its advancing yesterday. Both Pound and euro are higher against the dollar currently. Both AUD/USD and USD/JPY reversed their retreating on Wednesday with both the yen and the Australian dollar higher against the Greenback currently.

The US stock index futures are in red currently ahead of unemployment benefits report at 14:30 CET. US stocks rallied on Wednesday with the three main US stock benchmarks recording daily gains in a range from 7.9% to 12.1% after president Trump announced a 90-day pause on newly implemented reciprocal tariffs, excluding China. President Trump hiked the tariff on Chinese imports to 125% from the 104% level that kicked in on Wednesday.

European stock indexes are rising currently after closing sharply lower yesterday led by health care and oil and gas shares while European Union voted to approve its first set of trade retaliatory countermeasures with duties to be collected on a first batch of tariffs on US imports from April 15. Asian stock indexes futures are mostly rising currently with Australia’s S&P/ASX 200 All Ordinaries index defying the trend while Chinese stocks continued advancing despite president Trump’s hiking of tariffs on Chinese imports to 125% from previous rates of 104%.

Brent is retreating presently. Prices rebounded on Wednesday despite the Energy Information Administration (EIA) report US crude oil stock increased by above expected 2.6 million barrels to 442.3 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures rallied 4.65% but are lower currently. Brent crude jumped 4.2% to $65.48 a barrel on Wednesday.