Action Insight Daily Report 4-23-25

Markets Rebound as Trump Softens on Tariffs and Powell, Risk Sentiment Regains Ground

US stock staged a strong rebound overnight, erasing all of Monday’s steep losses as risk sentiment recovered on signs of potential de-escalation in US-China trade conflicts. The sharp reversal in equities was driven by multiple headlines suggesting a thaw in relations, including comments from US Treasury Secretary Scott Bessent and President Donald Trump that tariffs may soon come down. The recovery extended into Asian markets, with relief spreading after Trump also backed away from threats to fire Fed Chair Jerome Powell.

In a closed-door meeting with investors, Bessent reportedly said he expects “a de-escalation” in the trade standoff with China in the “very near future,” acknowledging that the current tariff regime—now as high as 145% on Chinese goods—is unsustainable. “We have an embargo now, on both sides, right?” he added, highlighting the urgency to reach a deal. Trump echoed that tone during a press conference in the Oval Office, stating that the current tariff rates “won’t be that high” and expressing optimism that an agreement with Beijing could be reached “pretty quickly.” He also pledged not to “play hardball” during the negotiations, a marked shift in tone from recent weeks.

In another positive turn for market stability, Trump publicly backed off from his threat to remove Fed Chair Powell. “No, I have no intention of firing him,” he told reporters, although he reiterated his preference for interest rate cuts. The reversal comes just days after sharp market losses partly triggered by growing concerns over Fed independence. Markets took the remarks in stride, viewing them as a sign that political pressure may ease for now, and that the central bank will retain the space to operate without further direct confrontation from the White House.....

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.8106; (P) 0.8149; (R1) 0.8233; More…

USD/CHF's break of 0.8196 minor resistance suggests short term bottoming at 0.8038, on bullish convergence condition in 4H MACD. Intraday bias is back on the upside for stronger recovery to 38.2% retracement of 0.9200 to 0.8038 at 0.8482. Strong resistance should be seen there to limit upside. On the downside, break of 0.8038 will resume larger down trend.

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