US Tariffs and Oil Prices Weigh on Global Markets
Financial markets remained cautious as investors assessed the impact of new US tariffs imposed on over 50 trading partners. The move added another layer of uncertainty for global trade and economy. Investors are now weighing the potential implications of these measures, including slower global growth.
The US Dollar Index (DXY) held firm near 101.40, while the EUR/USD pair fell about 0.3% on Thursday to enter a consolidation phase below 1.1400. The decline came despite the European Central Bank's decision to keep interest rates unchanged and ECB President Christine Lagarde's comments that there had been some calls for a rate hike.
Oil prices moved lower early Friday, correcting after a sharp rise in the previous session. West Texas Intermediate crude traded slightly below $90 per barrel, down from its 6% increase on Thursday.