MARKET COMPASS
Tariff Agenda and Hope
- Hopes that tensions over trade wars might ease are keeping markets breathing.
- President Trump stated that his administration is in talks with Beijing, although this has not been confirmed by China, while Bloomberg reported that China is considering suspending its 125% tariffs on some US imports.
- It is reported that progress has been made in the ongoing trade talks with Japan and South Korea.
- Donald Trump’s softening stance on US Federal Reserve Chairman Powell was among the developments that reflected positively on the markets.
- Cleveland Fed President Beth Hammack stated that a potential rate cut could come as early as June if reflected in economic data.
Following the rises in Asian stock markets, we are also seeing green numbers in European indices today. After yesterday’s positive close, Wall Street futures are pointing to a slight rise. Some easing was observed in the US 10-year bond yield. Digital assets continue to feel the impact of the easing risk appetite in global markets with the impact of government and corporate purchases. In addition to our medium- and long-term outlook, we maintain our view that the uptrend will continue with intermediate corrections in the short term. On the other hand, ahead of next week’s busy macro data agenda, we think it would not be surprising to see relatively lacklustre price changes due to the recent rapid rise.
Digital Compass
In the US, the locomotive of the world economy, we consider it a very important development that a strategic crypto reserve is on the agenda, which started with Trump’s nomination process. However, the fact that the markets had already priced in the “best case scenario” before and after the US elections, combined with the “less than perfect” news on this issue, put pressure on digital assets. We continue to keep the strategic reserve issue in our equation as a positive variable for cryptocurrencies in the long term. On the other hand, we think that there is no new news flow that will create pressure in the medium term, create enthusiasm in the crypto market, and that concerns that global economic activity may slow down in global markets, especially with Trump’s tariffs, will gradually begin to dissipate, and in this parallel, we soften our view that “pressure may continue in the medium term” and align it with our long-term bullish expectation. In the short term, markets will continue to be sensitive to macro indicators and tariff developments.
For a detailed review of our twice-daily technical analysis report and the latest developments in digital assets click here.
HIGHLIGHTS OF THE DAY
Important Economic Calender Data
| Time (UTC) | News / Event | Expectation | Previous |
|---|---|---|---|
| 14:00 | US Michigan 1-Year Inflation Expectations (Apr) | – | 6.7% |
| 14:00 | US Michigan Consumer Sentiment (Apr) | 50.6 | 50.8 |
INFORMATION
*The calendar is based on UTC (Coordinated Universal Time) time zone.
The economic calendar content on the relevant page is obtained from reliable news and data providers. The news in the economic calendar content, the date and time of the announcement of the news, possible changes in the previous, expectations and announced figures are made by the data provider institutions. Darkex cannot be held responsible for possible changes that may arise from similar situations.
DARKEX RESEARCH DEPARTMENT CURRENT STUDIES
Darkex Monthly Strategy Report – April
Ripple’s Hidden Road Acquisition: The Beginning of a New Era for
GameStop’s Bitcoin Acquisition Plans and its Strategic Transformation
Digital Collecting, Regulation and Opensea’s Request
The Digital Asset Fund Revolution: Trump Media’s “Made in America” ETF Move
Tether’s Journey to Success: From Crypto World to Global Financial
Click here for all our other Market Pulse reports.
Legal Notice
The investment information, comments and recommendations contained in this document do not constitute investment advisory services. Investment advisory services are provided by authorized institutions on a personal basis, taking into account the risk and return preferences of individuals. The comments and recommendations contained in this document are of a general type. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained in this document may not result in results that are in line with your expectations.
