Investors are closely monitoring trade developments as President Donald Trump prepares to unveil new tariffs as early as April 2, adding to previously announced 25% levies on steel and aluminum set to take effect in March. His latest comments provided the clearest signal yet on expanding protectionist measures across additional sectors.
Meanwhile, Japan’s exports surged, boosting the yen after its recent decline. Elsewhere, US and Russian officials convened for initial discussions on the Ukraine conflict, signaling potential for broader diplomatic engagement. However, Secretary of State Marco Rubio reassured European allies that sanctions on Russia would remain in place until a formal resolution to the war is secured.
On the monetary policy front, Federal Reserve Bank of San Francisco President Mary Daly reiterated the need for restrictive policy until inflation shows sustained progress toward the Fed’s target. Investors now turn their attention to the Federal Open Market Committee’s meeting minutes, which may provide further clarity on the central bank’s rate trajectory.
Oil Holds Gains as OPEC+ Supply Decisions Loom, Gold Near Record High
Crude prices remained firm as speculation swirled over a potential delay in OPEC+ production increases, compounded by uncertainty surrounding Russian energy flows. Gold fluctuated, trading near record highs as investors sought safe-haven assets amid ongoing geopolitical tensions and policy uncertainty.