No major events expected today.

On Friday, China’s Ministry of Finance announced a sharp increase in tariffs on U.S. goods, raising duties to 125% from 84%. The move came in response to U.S. President Donald Trump’s earlier decision to raise tariffs on Chinese imports to 145%. Meanwhile, in an effort to ease trade tensions, the European Union (EU) announced a 90-day suspension of planned retaliatory tariffs, mirroring a similar pause by Washington to encourage renewed dialogue.

The U.S. Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, extended its losses for the third straight session, falling below the 100.00 level and nearing a three-year low reached on Friday. The continued decline reflects weakening investor confidence amid worsening economic indicators and dovish comments from the central bank.

The University of Michigan’s consumer sentiment index dropped to 50.8 in April, while annual inflation expectations rose to 6.7%. The U.S. Producer Price Index (PPI) increased by 2.7% year-over-year in March, down from 3.2% in February, while the core figure fell to 3.3%. Jobless claims rose to 223,000, although continuing claims decreased to 1.85 million, indicating a mixed labor market picture.

On Sunday, Minneapolis Fed President Neel Kashkari said in a CBS Face the Nation interview that the economic impact of Trump’s trade war would largely depend on how quickly trade uncertainty is resolved. “This is the biggest hit to confidence I can recall in my 10 years at the Fed—aside from March 2020 when COVID first emerged,” Kashkari noted.

Recommendation: SELL 1.1350, SL 1.1450, TP 1.1200.