Forex News

The Ibovespa edged 0.1% higher to close at 134,739 on Friday, as investors absorbed fresh inflation figures, evolving global trade developments and a batch of underwhelming earnings. Industrial champion WEG and meat producers JBS and BRF led the advance, rising between 2.1% and 4.4%, while mining behemoth Vale slid 2.4% after reporting a 17% year-on-year drop in first-quarter profits. April’s IPCA-15 mid-month gauge rose 5.49% year-on-year—in line with expectations but still elevated—and reinforced bets that Copom will press on with further rate hikes and maintain tight financing conditions. Simultaneously, tentative signs of U.S.–China tariff rollbacks failed to dispel broader uncertainty, keeping many investors sidelined. Despite Friday’s modest gains, the Ibovespa finished the week up 3.9%.

The S&P/TSX Composite Index fell 0.3% to close at 24,711 mark on Friday, as heavyweight mining names on the resource-heavy exchange came under pressure amid lingering uncertainty over U.S.–China tariff talks. Bullion-linked stocks led the retreat: Agnico Eagle dipped 0.8% after gold prices pulled back sharply despite the miner nearly doubling first-quarter profits on robust output and lower costs, while Wheaton Precious, Barrick Gold and Franco-Nevada slid between 0.6% and 1.8%. Tech shares proved more resilient—Shopify jumped 2.2%, cushioning the broader downturn. Economically, retail sales fell 0.4% in February, underscoring how higher borrowing costs are straining domestic demand. Traders also wrestled with mixed trade-war cues—reports that China might suspend its 125% tariffs on certain U.S. goods were quickly denied by Beijing even as President Trump asserted talks were ongoing—leaving investors cautious. Despite Friday’s pullback, the TSX posted a 2.1% weekly gain.

US equities closed higher on Friday, marking a fourth consecutive session of gains, fueled by strength in Big Tech, while President Trump's latest tariff remarks kept trade tensions in the spotlight. The S&P 500 rose 0.7%, the Nasdaq gained 1.1%, and the Dow added 20 points. Trump’s suggestion of 50% tariffs as a "total victory" added uncertainty, while Beijing disputed claims of ongoing talks, offsetting optimism from China’s decision to exempt some US goods from tariffs. Alphabet shares climbed 1.5% after beating earnings estimates, announcing its first-ever dividend, and revealing a $70 billion stock buyback plan. Tesla surged 9.8% after new self-driving car rules were unveiled. Intel fell 7% on weak guidance, and T-Mobile dropped 11% on soft subscriber growth. Next week, Amazon, Apple, and Meta—fellow members of the “Magnificent Seven”—are set to report earnings. Wall Street posted solid weekly gains, with the S&P 500 up 4%, the Nasdaq rising 6%, the Dow adding 2%.

Intuit increased to an 8-week high of 624.93 USD. Over the past 4 weeks, Intuit gained 1.54%, and in the last 12 months, it decreased 1.83%.

WTI crude oil futures rose nearly 0.4% to settle at $63 per barrel on Friday, but still posted a weekly loss of over 1% amid persistent oversupply concerns and uncertainty around U.S.-China trade talks. Market sentiment remained cautious as reports indicated the U.S. and Russia are making progress toward ending the conflict in Ukraine, though key terms have yet to be finalized. At the same time, several OPEC+ members are expected to advocate for a second consecutive month of accelerated output increases in June. Kazakhstan, a significant member of the alliance, signaled it would prioritize national interests and not cut production at its major fields. Conflicting statements from Washington and Beijing over tariff negotiations have added to the market’s volatility, despite indications that China may ease some levies on U.S. imports. Adding to the geopolitical tensions, the U.S. imposed fresh sanctions this week on a key Iranian figure involved in crude and LPG shipping.

Spain's consumer confidence decreased by 1.8 points to 79.6 in March 2025, the lowest level since October 2024, down from 81.4 in the previous month. This decline was driven by a weakening in consumers' assessment of the current situation (76.6 vs 77.1) and household expectations (82.6 vs 85.8). On a yearly basis, consumer confidence dropped by 2.9 points (79.6 vs 82.5).

Top commodity losers are Cheese (-4.19%), Rice (-1.24%) and Cotton (-0.95%). Gains are led by Oat (1.49%), Sugar (1.33%) and Orange Juice (1.25%).

Top commodity losers are Silver (-1.81%), Gold (-1.62%) and Iron Ore CNY (-1.33%).

Top commodity losers are Natural Gas UK GBP (-5.09%) and Natural Gas EU Dutch TTF (-4.90%). Gains are led by Heating Oil (0.83%), Natural gas (0.80%), Brent Crude Oil (0.31%) and Crude Oil WTI (0.29%).

Next week, investors will closely monitor developments in the ongoing US-China trade dispute, assessing the likelihood of a potential de-escalation. Global earnings season will also take center stage, with major companies such as Apple, Microsoft, Amazon, Meta, set to release quarterly results. Also, the week is packed with key economic data. In the US, the first estimate of Q1 2025 GDP growth is expected to show a significant slowdown, with some forecasts even suggesting a possible contraction. Investors will also focus on the jobs report, PCE inflation data, and the ISM Manufacturing PMI. In Europe, market participants will analyze flash GDP and inflation figures for the Eurozone. Meanwhile, the Bank of Japan is widely expected to keep interest rates unchanged. In China, all eyes will be on April PMI readings, and in Australia, inflation data will be in the spotlight.

The three-day rally in US stocks lost steam on Friday, with the S&P 500 adding 0.3% and the Nasdaq rising 0.7%, bolstered by Alphabet’s strong quarterly results, while the Dow slipped over 50 points. President Donald Trump added to the uncertainty by suggesting tariffs as high as 50% could be a "total victory" a year from now, while Beijing disputed claims of ongoing negotiations—offsetting optimism after China exempted some US goods from steep tariffs. On the corporate front, Alphabet shares rose 2% after the company beat earnings estimates, announced its first-ever dividend, and unveiled a $70 billion stock buyback plan, while Intel sank 7% on weak guidance and T-Mobile dropped 8% on soft subscriber growth. Long-term inflation expectations also jumped to the highest level since 1991, adding pressure to an already jittery market. Wall Street’s major indexes were on track for solid weekly gains, with the S&P 500 and Nasdaq are up 3.8% and 5.4%, respectively. The Dow has climbed 2%.

Applied Materials increased to a 4-week high of 151.04 USD. Over the past 4 weeks, Applied Materials gained 0.2%, and in the last 12 months, it decreased 25.74%.

Tesla increased to a 4-week high of 285.23 USD. Over the past 4 weeks, Tesla gained 4.7%, and in the last 12 months, it increased 69.35%.

Frankfurt’s DAX gained ground to close about 0.8% higher at 22,242.5 on Friday, its fourth straight session of gains, buoyed by solid corporate results across Europe and renewed hopes for a thaw in U.S.-China trade tensions. Reports that China may remove its 125% tariff on certain U.S. imports, along with President Trump’s more conciliatory tone toward Beijing, have eased concerns over a potentially damaging global trade war. On the corporate front, Aero Engines (+4.6%) led the gains, followed by Brenntag (+4.5%) and Heidelberg Materials (+3.8%), while tech, pharma, and auto stocks also performed well. For the week, the index added about 4.9%, notching its second consecutive weekly gain.

European stocks extended their rally into a fourth session on Friday, with the STOXX 50 rising 0.8% and the STOXX 600 adding 0.3%. Traders found some relief from signs of a potential U.S.-China tariff truce, despite denials from China and overtures from the U.S. Reports indicated that China was considering suspending its 125% tariff on certain U.S. imports, while President Trump reiterated that trade talks were progressing well. Both indices recorded a second straight week of gains, up 4.4% and 2.5%, respectively. Meanwhile, the earnings season remained in focus, with shares of Safran climbing 4.2% after the company reported a stronger-than-expected rise in first-quarter revenue and expressed confidence in meeting full-year targets, excluding any potential tariff impact

The UK's FTSE 100 closed marginally up at 8,413 on Friday, its tenth straight session of advances and booking a nearly 1.7% weekly gain. The index was lifted by stronger-than-expected UK retail sales and cautious optimism over easing U.S.-China trade tensions. On the data front, UK retail volumes unexpectedly rose by 0.4% in March, following a revised 0.7% gain in February, against analysts' forecasts of a 0.4% decline. On the business front, the aerospace and defense sector emerged as the top performer, with Melrose Industries surging 3.8%. Companies with heavy exposure to the US also performing well, including building materials group CRH, gambling outfit Entain and pest control giant Rentokil Initial. Conversely, Unilever and Marks & Spencer were the biggest laggards, each down 2.2%. Precious metals miners Fresnillo, Endeavour and Hochschild fell as gold prices continued to retreat from recent record highs.

Canada’s government budget recorded a surplus of CAD 7.6 billion in February 2025, narrowing from a surplus of CAD 8.3 billion in February 2024. During the first eleven months of the 2024/25 fiscal year (April – February), the country posted a deficit of CAD 19.3 billion, up from the CAD 17.3 billion deficit reported in the same period a year earlier. Program expenses rose by 17.1%, reflecting increases across various categories. Public debt charges increased by 3.3%, primarily due to a rise in the stock of marketable bonds. Meanwhile, government revenues climbed by 10.4%, largely driven by higher personal and corporate income tax revenue.

Government bonds yields remain mixed on Friday. Top losers are Mexico 10Y (-39.50bps) and Brazil 10Y (-11.20bps).

Top currency losers are Japanese Yen (-0.94%), Swedish Krona (-0.81%), South Korean Won (-0.68%), British Pound (-0.25%) and Euro (-0.19%). Gains are led by Dollar Index (0.23%).

The University of Michigan consumer sentiment for the US was revised higher to 52.2 in April 2025 from a preliminary reading of 50.8, and compared to 57 in March. Despite the upward revision, consumer sentiment fell for a forth consecutive month to the lowest since July 2022, as consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead. The expectations gauge plummeted to 47.3, also the lowest since July 2022, compared to a preliminary reading of 47.1 and 52.6 in March. Economic conditions worsened less than initially expected (59.8 vs 56.5 in the first estimate and 63.8 in March). On the price front, year-ahead inflation expectations jumped to 6.5%, the highest since 1981, due to trade policy announcements. However, the figure was slightly smaller than 6.7% in the preliminary release. Long-run inflation expectations climbed to 4.4% from 4.1%.