Global share markets are acting very strangely overnight - European markets surging despite the impending Trump tariffs. Fall in Eurozone inflation may have helped to lift European markets.
In Europe, the FTSE rose 51 points (.61%), the DAX rose 376 points (1.70%) and the CAC rose 85 points (1.10%).
Eurozone inflation fell to 2.2% in March - down from 2.3% in February. Services inflation remains sticky at 3.4% down from 3.7% in February.
The continuing downward trend in inflation is strengthening the case for future cuts in interest rates.
In Australia, the RBA kept interest rates on hold.
In the US, markets were mixed.
The DOW fell 11 points (.028%), the NBI plummeted 111 points (2.63%), the NASDAQ rose 150 points (.87%) and the Russell small cap index rose less than 1 point (.016%).
Noticeable that the NBI suffered such a negative session. This won't help the ASX Biotech sector today.
Reports out that Trump will introduce a general 20% tariff on ALL good imported into the US tomorrow.
US Manufacturing PMI data showing a slip into contraction due to increased costs from Trumps tariff policies.
"Demand and production retreated and destaffing continued, as panelists’ companies responded to demand confusion," Institute for Supply Management chair Timothy Fiore wrote in the release. "Prices growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery slowdowns and manufacturing inventory growth."
US Treasury 10 year bond yield fell to 4.166%
Oil price fell marginally - Brent crude is at US$74.45 per barrel.
Precious metal prices fell - gold is at US$3,118 per oz. Silver price fell substantially.
BITCOIN rose to US$84,978.
IMU Price at posting:
3.1¢ Sentiment: Buy Disclosure: Not Held
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