As we approach the end of April, markets are cautiously navigating mixed signals around trade policy, earnings, and global growth prospects. 

Market Snapshot 

- USD/CAD: Up 0.10% 

- GBP/USD: Down 0.30% 

- EUR/USD: Down 0.40% 

Key Themes Driving Markets:

1. Trade Developments: Cautious Optimism 

President Trump commented on Thursday that talks with China were ongoing, although Beijing officially denied this claim. Nonetheless, markets are reading between the lines and picking up on small signs of engagement. 

Bloomberg reported that China is considering suspending its 125% tariffs on select U.S. imports—a potential olive branch amid months of escalating tensions. 

Reports also suggest that South Korea and the U.S. may reach a preliminary trade understanding next week, boosting hopes for broader trade de-escalation efforts. 

2. Global Equities Buoyed Overnight 

Asian equity markets were broadly higher overnight, helped by hints of trade policy softening and resilient earnings from some global tech firms. 

European equities also posted gains early Friday, contributing to a positive tone in risk assets. 

However, U.S. futures are lower this morning following three consecutive days of gains, weighed by mixed corporate earnings and trade uncertainty. 

3. U.S. Earnings in Focus 

Corporate earnings remain central, with strength seen from companies like Alphabet, while other sectors show more mixed results. 

Overall, earnings are providing some stabilization to equity sentiment despite lingering macro risks. 

Looking Ahead 

While tariff tensions and policy noise continue to shape headlines, attention is slowly pivoting back toward earnings fundamentals. Additionally, month-end portfolio rebalancing flows could influence price action into next week. 

Conclusion 

Today’s market shows a slightly stronger U.S. dollar, cautious optimism around global trade discussions, and focus returning to corporate earnings. Investors will likely stay alert to new developments from Washington, Beijing, and Seoul.