International inventory indices cratered yesterday, 16 April, led by know-how and semiconductor shares. Uncertainties over US tariffs and tic-for-tat commerce retaliatory measures solid doubts on the know-how sector’s prior excessive earnings development expectations.
On Wednesday, 16 April, US know-how heavyweight plummeted by 3%, and in whole, contemplating its efficiency previously 4 classes, it had nearly wiped-out half of the 12% day by day acquire seen on final Wednesday, 10 April when US President Trump introduced a 90-day pause on the upper US reciprocal tariffs charges on all international locations besides China.
Europe-based ASML (NASDAQ:), the world’s greatest semiconductor chip-making tools provider, warned that US tariffs have been growing uncertainty round its earnings outlook for 2025 and 2026, which added “salt” to yesterday’s risk-off sentiment.
The continued to weaken, and safe-haven currencies, the and , outperformed among the many main currencies with day by day beneficial properties of 1.2% and 1% towards the US greenback yesterday, 16 April.
Gold () stood out positively as commerce tensions rage on, and it soared by 3.5% to print a recent all-time closing excessive of $3,343 yesterday. In at present’s Asian opening session, it prolonged its beneficial properties by 0.2% to print a present intraday excessive of $3,357 presently of writing.
Japan concluded its first day of commerce negotiations with US officers, the place US President Trump made a shock transfer to affix in, and commented that there was “large progress” through his social media account.
Trump’s optimistic feedback on the continued US-Japan commerce talks have provided a attainable minor reduction to threat property, as main Asian benchmark inventory indices began at present’s session with optimistic beneficial properties. Japan’s rallied by 0.7%, coupled with a Japanese yen dropping 0.6% towards the US greenback. Hong Kong’s ticked greater by 0.5%.
Threat sentiment within the latter half of the Asian session and early European hours will seemingly hinge on Q1 earnings outcomes and the two PM Singapore time convention name from Taiwan Semiconductor Manufacturing (NYSE:), the world’s largest contract semiconductor producer.
Financial Information Releases
Fig 1: Key Information for At this time’s Asian Session
Supply: MarketPulse
Chart of the Day – Potential Minor Bearish Reversal in AUD/USD
Fig 2: AUD/USD Minor Development as of 17 Apr 2025
Supply: Buying and selling View
The latest 8% rally seen on the from its intraday low of 0.5914 on 9 April to 16 April has began to indicate indicators of bullish exhaustion under a key resistance zone outlined by its former main ascending trendline help from the 13 October 2022 main swing low.
The hourly RSI momentum indicator has flashed out a bearish divergence situation at its overbought area, which suggests a possible pull-back to retrace some parts of the early up transfer.
Watch the 0.6390/6400 medium-term pivotal resistance on the AUD/USD, and a break under 0.6320 minor help might set off a possible slide to reveal the following intermediate helps at 0.6280/6250, and 0.6190/6170.
Alternatively, a clearance above 0.6400 invalidates the bearish tone for an additional squeeze up in the direction of the following intermediate resistances at 0.6470 (additionally the 200-day shifting common), and 0.6520/6540.
