Next, what you need to know on Thursday, April 3:
He US Dollar (USD) It suffers strong losses against its main rivals on Thursday while markets evaluate how the tariffs of US President Donald Trump could impact economic activity. The European Central Bank (ECB) will publish the minutes of the Monetary Policy Meeting and the US economic calendar will include the initial weekly unemployment applications and the PMI data of the ISM services of March later a day.
US dollar price this week
The lower table shows the percentage of the US dollar change (USD) compared to the main currencies this week. American dollar was the weakest currency against Japanese and in Japanese.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -1.25% | -1.48% | -1.78% | -0.92% | -0.27% | -0.87% | -1.29% | |
| EUR | 1.25% | -0.13% | -0.52% | 0.37% | 1.08% | 0.43% | 0.00% | |
| GBP | 1.48% | 0.13% | -0.39% | 0.55% | 1.21% | 0.59% | 0.16% | |
| JPY | 1.78% | 0.52% | 0.39% | 0.90% | 1.61% | 0.99% | 0.42% | |
| CAD | 0.92% | -0.37% | -0.55% | -0.90% | 0.71% | 0.06% | -0.38% | |
| Aud | 0.27% | -1.08% | -1.21% | -1.61% | -0.71% | -0.62% | -1.07% | |
| NZD | 0.87% | -0.43% | -0.59% | -0.99% | -0.06% | 0.62% | -0.45% | |
| CHF | 1.29% | -0.01% | -0.16% | -0.42% | 0.38% | 1.07% | 0.45% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
The Trump administration announced on the “Day of Liberation” that it will impose a base tariff of 10%, effective on April 5, on all imports to the US, the United Kingdom, Australia and Saudi Arabia will be among the countries that will only face this base rate. Canada and Mexico will be exempt from this 10%increase. The officials will also impose higher reciprocal tariffs, which will enter into force on April 9, about approximately 60 countries that describe as “worst offenders.” The European Union, China and Japan will face tariffs of 20%, 54%and 24%, respectively, under this new regime. In addition, Trump confirmed that 25% tariffs on all cars manufactured abroad will be imposed.
After the tariff ads, the USD index fell 0.5% on Wednesday and extended its fall during the Asian negotiation hours on Thursday. At the time of publication, the USD index was below 1% on the day about 102.50.
The president of the European Commission, Ursula von der Leyen, responded to the reciprocal tariffs of US president Donald Trump early on Thursday, qualifying them as a great blow to the world economy. “We are preparing an additional package of measures to protect our interests,” he added.EUR/USD Win bullish impulse and quotes at its highest level since the beginning of October above 1,0960 in the European session.
GBP/USD It is recovered and quoted at its strongest level in six months above 1,3100.
USD/CAD loses more than 0.5% in the day and quotes below 1,4200, while USD/MXN It fell around 0.7% in the day. Canadian Prime Minister Mark Carney said Wednesday night that the country will fight against Trump tariffs with countermeasures.
After registering small losses on Wednesday, USD/JPY It decreases dramatically and quotes about 147.00, losing almost 1.5% in daily terms.
Gold He played a new historical maximum above $ 3,160 in the Asian session, but lost his traction. At the time of the publication, the Xau/USD quoted slightly down in the day to 3,125 $.
Earlier in the day, China’s data showed that the Caixin Services PMI improved 51.9 in March from 51.4 in February. The Chinese Ministry of Commerce reiterated on Thursday that it firmly opposes US tariffs and “will take reconramed resolved to safeguard their rights and interests.”AUD/USD It struggles to benefit from the generalized sales pressure surrounding the USD and quotes slightly up to the day around 0.6300.
FAQS tariffs
Although tariffs and taxes generate government income to finance public goods and services, they have several distinctions. Tariffs are paid in advance in the entrance port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while tariffs are paid by importers.
There are two schools of thought among economists regarding the use of tariffs. While some argue that tariffs are necessary to protect national industries and address commercial imbalances, others see them as a harmful tool that could potentially increase long -term prices and bring to a harmful commercial war by promoting reciprocal tariffs.
During the election campaign for the presidential elections of November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy. In 2024, Mexico, China and Canada represented 42% of the total US imports in this period, Mexico stood out as the main exporter with 466.6 billion dollars, according to the US Census Office, therefore, Trump wants to focus on these three nations by imposing tariffs. It also plans to use the income generated through tariffs to reduce personal income taxes.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
