Week of strong falls for financial markets after the President DeglThe United States, Donald Trump It has announced duties that will be basic by 10% and that for specific countries (the so -called mutual rates, the formula used for calculation also considers only commercial deficits) vary from 34% to China, 20% to the European Union and 24% to Japan. Many affected countries have already announced an imminent response through the imposition of rates to the United States. In light of the fact that the United Kingdom will be among the less affected countries (10%), the London list has partially contained the liabilities. China replied by announcing additional duties of 34% on all goods imported from the USA, starting from April 10th.
Inflation down in the EU, but the path for the ECB is complicated
The PMI index of services in the euro area, in March, has strengthened 51 points from 50.4 of the preliminary estimate, resulting in greater 50.6 of the previous month; In addition, prices have continued to rise to the production of the euro area: in February the data recorded an increase of 0.2% on a monthly basis, compared to +0.7% of the previous month and +0.3% estimated by analysts.
As for overall inflation in area euro has gone from 2.3% of February to 2.2% of March, while, in parallel, the core inflation fell from 2.6% to 2.5%: data that feed the expectations of a new cut of interest rates by the ECB. However, explains Richard Flax, Chief Investment Officer of Moneyfarm, there is no shortage of differences between the inflationary trends recorded in the various Member States: in Italy the inflation went from 1.6% of February to 2% of March, touching the highest value of the last year, where in Germany it has fallen to 2.2%, the lowest level of the last four months. These conflicting data highlight an irregular disinflation, which hinders the ECB attempt to stabilize prices on the prices in the Eurozone. The ECB still has a few weeks available to evaluate the situation before the next monetary policy meeting, scheduled for April 17 in Frankfurt. With so many uncertainties at stake, concludes the analyst, the central bank could opt to keep rates unchanged in April and reconsider any interventions later during the year.
Resilient US labor market, difficult location for the FED
The US economy created, in March228,000 jobs, sThe expectations of analysts opra, while the unemployment rate has grown beyond 4.2%forecasts, increasing uncertainty.
The numbers on jobs, created in March, show a resilient labor market before the announcement of the duties of April 2, renamed by the President of the United States, Donald Trump, the ‘Liberation Day’. According to economists, rates could slide the economy into recession, increasing the unemployment rate and inflation. Expectations that the Fed put in a difficult position: the central bank is in fact called to find a balance on the support of the economy with lower interest rates and the fight against inflation.
Oil in the beaten on fear question
The eight villagersI OPEC+which had previously announced further voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, have decided to implement an adjustment of the production of 411 thousand barrels per day, equivalent to three monthly increases, in May 2025 positive “, and in accordance with the decision agreed on December 5, 2024, subsequently reconfirmed on March 3, 2025, to start a gradual and flexible return of 2.2 million barrels per day of voluntary adjustments starting from 1 April 2025. What is decided includes the increase originally planned for May as well as two monthly increases. After the announcement, the price of crude oil accelerated the discounts, with the WTI slipped under $ 67 per barrel and the Brent at 70 dollars a barrel.
Gold updates historical record over 3,170 dollars
They He continues to run and, in response to the collapse of the markets, reaches a new historical record of $ 3,170 the ounce. To inspire the purchase of the good refuge there was the uncertainty for the announcement of mutual duties of Trump with heavy impacts on the economy.
The Liberation Day He saw investors abandon the dollar. The euro re -run the threshold of 1.11 on the green ticket. The drop in the dollar intensifies, with the euro that takes advantage of it to regain the threshold of 1.11, after the introduction of mutual duties, heavier than expected, by the American president Donald Trump. The Yen travels to the maximum three weeks while the Swiss franc touched the maximum in 4 months. “The announcement of a wide range of duties imposed by the Trump Administration has strongly impacted the dollar, accelerating its movement that began at the end of January”, comments Stefano Fiorini of Generali Asset Management.
The weekly performance of bags
The strongest reductions sthey were recorded by the Piazza di Milano which brings home a reduction of 11.3%. The Bags of Paris and Frankfurt are followed, which slips by about 9%, while Madrid and London limit the 7% drop. The ending sets itself up in a strong decline also for the Wall Street bag, with the US indices when braking with double -digit braking.
The best and worst in Piazza Affari
In Piazza Affari, Stellantis and STM They suffer from 19% and 20% suffer respectively. Down the banks, with unicredit downhill of about 20% and Sondrio of 19.9%. Mps also loses land -19.1% and BPER -20.6%. Among the few rises, however, the utilities for their defensive nature hold: Snam, Italgas and Terna earn about 2%. Well, but with more limited raises, Enel in progress of 0.6%.
