On Wednesday's American session, the Australian Dollar pulled back after a brief spike to multi-day highs, with the AUD/USD pair slipping back under the 0.6300 threshold.
Nouriel Roubini slammed Trump's "Liberation Day" tariffs as "Orwellian doublespeak," warning they could lead to lower growth, higher inflation, and prolonged trade disputes.
A US 20% reciprocal tariff on the European Union will hurt. It's worsened the eurozone's short-term outlook. Now, so much depends on European governments to push through with their planned fiscal stimulus and reforms to strengthen domestic economies
Stocks were in risk on mode today, rallying for much of the day, squeezing the shorts who had taken defensive positions ahead of Donald's pronouncements on tariffs.
Historically, when the S&P 500 has fallen 10% and the yield on the 10-year U.S. Treasury bond has declined 50+ basis points, the U.S. economy has been heading into recession about 70% of the time.
